Question

Expan of GDP ? in society subject ?

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Answer 1

GDP STAND FOR

GROSS DOMESTIC PRODUCT

is a measurement that seeks to capture a country's economic output. Countries with larger GDPs will have a greater amount of goods and services generated within them, and will generally have a higher standard of living. For this reason, many citizens and political leaders see GDP growth as an important measure of national success, often referring to “GDP growth” and “economic growth” interchangeably. Due to various limitations, however, many economists have argued that GDP should not be used as a proxy for overall economic success, much less the success of a society more generally.