Question

What is meant by GDP?

Answer 1

Gross Domestic Product is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually or quarterly. Nominal GDP estimates are commonly used to determine the economic performance of a whole country or region, and to make international comparisons

Answer 2

                Gross Domestic Product (GDP)

• GDP stands for "Gross Domestic Product".
• The "gross domestic product" is the total money value of all "finished goods and services".
• This money made from the finished goods and the services of the particular product made in a country for the specific duration of time.
• GDP gives the description about the economic growth and the economic status of the country thereby the total income received for the particular year.
• And the expenditure is also taken for the calculation.