Question

What is the use of 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.

■ The gross domestic product (GDP) is one of the primary indicators used to gauge the health of a country's economy.

Answer 2

The gross domestic product (GDP) is one of the primary indicators used to gauge the health of a country's economy. It represents the total dollar value of all goods and services produced over a specific time period, often referred to as the size of the economy