‘‘Higher Gross Domestic Product (GDP) means greater per capita availability of goods in the economy.’’ Do you agree with the given statement? Give valid reason in support of your answer.

GDP is equal to the total monetary value of all final goods and services that have been exchanged within a specific border over a set period of time. The rate of growth of GDP affects the pace of the economy. GDP is a measure of the production and services within a country.

Therefore, it is true to say that increasing GDP also results in greater per capita availability of goods within a country. It may not result in equally higher per capita income, but it definitely leads to more production. Statistics mean nothing in absolute terms, but the correlation between the two is true.