Saturday 12 August 2023

GROSS DOMESTIC PRODUCT ( GDP )

The economic strength of a country is determined by its gross domestic product (GDP). In other words, the amount of all income generated in the country from the sale of goods and services.

Gross domestic product (GDP) is an estimate of the total value of finished goods and services produced within a country's borders during a specified period, usually a year. GDP is popularly used to estimate the size of a country's economy and its impact on the global economy.

Gross Domestic Product (GDP), a widely used indicator, refers to the total gross value added by all resident producers in the economy. Growth in the economy is measured by the change in GDP at constant price.

Per capita factor seems not to be involved, here.

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