Question

define gdp or gross domestic product in your words
​

Answer 1

Answer:

Gross domestic product is a monetary measure of the market value of all the final goods and services produced in a specific time period

MARK IT BRAINLIEST PLZ, IF YOU GET HELP

Answer 2

Answer:

Definition: GDP is the final value of the goods and services produced within the geographic boundaries of a country during a specified period of time, normally a year. ... In order to avoid a distorted measure of GDP due to price level changes, GDP at constant prices o real GDP is computed.

Gross Domestic Product (GDP) measures the total value of final goods and services produced within a given country's borders. It is the most popular method of measuring an economy's output and is therefore considered a measure of the size of an economy.

Types of Gross Domestic Product (GDP)

1. Real Gross Domestic Product. Real GDP is the GDP after inflation has been taken into account.
2. Nominal Gross Domestic Product. Nominal GDP is the GDP at current prices (i.e. with inflation).
3. Gross National Product (GNP) ...
4. Net Gross Domestic Product.

The five main components of the GDP are: (private) consumption, fixed investment, change in inventories, government purchases (i.e. government consumption), and net exports. Traditionally, the U.S. economy's average growth rate has been between 2.5% and 3.0%.

Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of the country's economic health.

Examples include clothing, food, and health care. Investment, I, is the sum of expenditures on capital equipment, inventories, and structures.

If u want mrk me as BRAINLIEST

Hope it helps