Question

explain gross domestic product simply.

Answer 1

In economics, gross domestic product (GDP) is how much a place produces in some amount of time. GDP can be calculated by adding up its output inside the borders of that country.

Answer 2

Gross domestic product (GDP) is a monetarymeasure of the market value of all final goodsand services produced in a period (quarterly or yearly) of time. Nominal GDP estimates are commonly used to determine the economic performance of a whole country or region, and to make international comparisons