what is the meaning of GDP
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Gross Domestic Product (GDP) can be estimated in three ways which, in theory, should yield identical figures. They are
(1) Expenditure basis: how much money was spent,
(2) Output basis: how many goods and services were sold, and
(3) Income basis: how much income (profit) was earned.
jaspreetkhaira:
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Gross Domestic Product (GDP) is the broadest quantitative measure of a nation's total economic activity. More specifically, GDP represents the monetary value of all goods and services produced within a nation's geographic borders over a specified period of time.
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