Question

Arrange the following economies from the largest to smallest in terms of PPP-GDP based on data from 2019.

• A. India
• B. China
• C. USA
• D. Japan

Answer 1

Gross Domestic Product (GDP) refers to the total value of goods and services produced in a year. Purchasing Power Parity (PPP) is a measure used to compare the value of goods and services in different countries through a standardised basket of goods. In 2019, India was the third largest economy in the world in terms of PPP-GDP. China was the largest, the USA was the second largest, and Japan was the fourth largest.