Gross Domestic Product - GDP


 
 
Concept Explanation
 

Gross Domestic Product - GDP

Gross Domestic Product (GDP) :

Gross Domestic Product (GDP) is the market value of all officially recognised final goods and services produced within a country in a given period of time. GDP per capita is often considered an indicator of a country's standard of living. It is the measure of a country's economic performance. It is defined as the market value of the output of final goods and services produced in the domestic territory of a country during an accounting year.

GDP is the total money value of all final goods and services produced with in the geographical boundary of the country during a financial year.

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