Question

Impact of gross domestic product on production and operations management

Answer 1

Gross domestic product (GDP) measures the value of a country’s overall goods and services at market prices, without including income from abroad. In the U.S., for example, GDP figures are released quarterly. Although the GDP gauges the economy’s health, it can also have either a positive or negative effect on the economy. Because of its importance, financial analysts and government officials pay close attention to the GDP.