Sorry tor disturbing. What is GDP? Why it is necessary
Answers
GDP is gross domestic product.
GDP is important because it gives information about the size of the economy and how an economy is performing. The growth rate of real GDP is often used as an indicator of the general health of the economy. In broad terms, an increase in real GDP is interpreted as a sign that the economy is doing well.
Answer:
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. GDP growth rate is an important indicator of the economic performance of a country.
Step-by-step explanation:
Economic growth is measured by an increase in gross domestic product (GDP), which is defined as the combined value of all goods and services produced within a country in a year. ... A company that buys a new manufacturing plant or invests in new technologies creates jobs, spending, which leads to growth in the economy.
I hope this helps you