Question

what is GDP? what is it's importance?

It's a request to all that only one answer is needed...

I consider this as the last reminder..

if u. have to write anything comment section is open...​

Answer 1

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GDP stands for

Gross Domestic Product.

According to economics,

Gross Domestic Product means

GDP is the monetary value of all finished products and services made within a country in a specific period.

The GDP acts like a spinal cord of India's Economic status.

It is calculated in 3 ways ;

1. Income
2. expenditure
3. production

GDP acts like a preface to understand the economic growth and economic rate of a country.

But now a days

The GDP rate had declined leading to financial or economical loses of our country.

Hope this is useful...

Answer 2

GDP stands for

Gross Domestic Product.

According to economics,

Gross Domestic Product means

GDP is the monetary value of all finished products and services made within a country in a specific period.

The GDP acts like a spinal cord of India's Economic status.

It is calculated in 3 ways ;

1. Income
2. expenditure
3. production

GDP acts like a preface to understand the economic growth and economic rate of a country.

But now a days

The GDP rate had declined leading to financial or economical loses of our country.

Hope this is useful...