GDP and the circular flow of income and expenditures

3 videos
Economics can some times get confusing because one person's expenditure is another person's income which can then be used for expenditure and on and on and on. Seems very circular. It is. This tutorial helps us grapple with this and introduces us to the primary tool economists use to measure a nations productivity/income/expenditure--GDP (gross domestic product).

Circular flow of income and expenditures

VIDEO 8:58 minutes
Understanding the flow of resources in the simplest possible economy

Parsing gross domestic product

VIDEO 11:59 minutes
Understanding what GDP does and doesn't measure.

More on final and intermediate GDP contributions

VIDEO 2:50 minutes
What happens when a good is not finished in a period