Economic Output: Definition & Overview

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which of the following is the best description of economic output?

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1. Which of the following is a common measure of economic output used today?

2. If you are measuring economic output by adding up the value of all the goods and services sold to people and organizations that consume them, what approach are you using to determine GDP?

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About This Quiz & Worksheet

This quiz will test you on different areas related to economic output. The questions revolve around measures of economic output and methods to calculate these measures.

Quiz & Worksheet Goals

The assessment will test you on:

  • Definition of economic output
  • Common modern measure of economic output
  • Methods to calculate GDP

Skills Practiced

You will practice these following skills:

  • Interpreting information - verify that you can read information regarding economic output and interpret it correctly
  • Defining key concepts - ensure that you can accurately define main phrases, such as economic output and value-added approach
  • Information recall - access the knowledge you've gained regarding the different ways to calculate GDP

Additional Learning

After you complete the quiz, you should also go through the corresponding lesson called Economic Output: Definition & Overview. The lesson reviews the following objectives:

  • Deepen the definition of economic output
  • Identifying traditional measures of economic output
  • Describing methods to calculate GDP
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