Social Sciences, asked by shivammaurya0084, 10 months ago

Give brief idea about GDP.​

Answers

Answered by ajay62484
2

Answer:

GDP is the total market value of all goods and services produced in a country for a given time period. The time period most often used is one year, which is then compared to past years as a way to measure the improvement or decline of a country's economic situation.

Answered by bhagyauoc13
2

Answer:

Gross Domestic Product (GDP) is the monetary value of all finished goods and services made within a country during a specific period.

Explanation:

GDP provides an economic snapshot of a country, used to estimate the size of an economy and growth rate.

GDP is the total value of everything produced in a country, regardless of if its citizens or foreigners produced it. When economists talk about the "size" of the economy, they are referring to GDP.There are many different ways to measure a country's GDP, so it's important to know all the different types and how they are used.

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