Question

What is GDP????.....

Answer 1

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♦ GDP : Gross Domestic Product

➡️The sum of the value of all final goods and services produced in all the three sectors ( Primary, Secondary and Tertiary ) in a particular year is called the Gross Domestic Product of a country.

➡️GDP indicates the size of the economy of a country. It is the market value of final goods and services produced by all sectors.

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Answer 2

Answer :

Hey mate ☺️

Gross domestic products (GDP

=>It is a monetary measure of the market value of all the final goods and services produced in a specific time period, often annually.

=>GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore using a basis of GDP per capita at purchasing power parity (PPP) is arguably more useful when comparing differences in living standards between nations.

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