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ECO403 VU GDB Solution Spring 2012

Banking system is becoming advanced with the passage of time. Many new ways have been introduced to purchase items which were not used before like credit cards, plastic money, easy paisa transfer, online shopping and many more. Credit cards provide the amount above a person’s purchasing capacity while online shopping is the advanced way to purchase anything from anywhere in the world. Buying through credit cards or online has become fashion nowadays. It is very easy to handle and purchase the items through this new technology. These ways are changing the shape and demand of items with the passage of time. Keeping in view the above stated situation, discuss how these ways would affect Gross Domestic Product. Discuss it with special reference ofPakistan economy.


SOLUTION:Gross domestic product (GDP) refers to the market value of all officially recognized final goods and services produced within a country in a given period.It has a major affect on Gross domenstic product and the economy. The state bank of the country has to issue currency in order to full fill the loans need in the country. The inflation in the country increase and affect badly lower and the mid class of Economy.

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