There are many groups that contribute to total GDP, such as net household and spending.Gross Domestic Product is an economy’s divided by their

Answer 1

contributions to total GDP. These groups include households, businesses, government, and net exports.

Households contribute to total GDP through their consumption spending. This includes all the goods and services that households purchase for their own use, such as food, clothing, housing, and entertainment.

Businesses contribute to GDP through their investments in capital goods, such as machinery, equipment, and buildings. They also contribute through their production of goods and services, which are sold to consumers and other businesses.

Government contributes to GDP through its spending on public goods and services, such as infrastructure, education, and healthcare. It also includes government investment in goods and services.

Net exports contribute to GDP by measuring the difference between a country's exports and imports. If a country exports more than it imports, then net exports will be positive and contribute to GDP. Conversely, if a country imports more than it exports, then net exports will be negative and detract from GDP.

These groups' contributions to GDP can be measured using different approaches. For example, the expenditure approach sums up all the spending on goods and services by households, businesses, government, and net exports. The income approach measures GDP by summing up all the income earned by individuals and businesses in the economy.

Overall, the contributions of these groups to total GDP give a comprehensive picture of an economy's production and consumption activities.