Unit Plan

Khan Academy: Comparing Gdp Among Countries

Curated by ACT

GDP per capita is GDP (Gross National Product) divided by population. Since GDP is measured in a country's currency, in order to compare different countries' GDPs, we need to convert them to a common currency. One way to compare different countries' GDPs is with an exchange rate, the price of one country's currency in terms of another.

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Concepts
exchange rate, exchange rates
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Additional Tags
comparing gdp among countries, gdp, gross national product, khan academy, convert them to a common currency, countries have very different numbers of people, to compare standards of living across countries, we need to divide gdp by population, gdp per capita
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Classroom Considerations
  • Knovation Readability Score: 3 (1 low difficulty, 5 high difficulty)