What GDP mean?

Answer 1

GDPThis is an abbreviation for Gross Domestic Product, which is the total value of all goods, services, agricultural produce and minerals extracted in a country or area, usually in one year. The concept applies to countries, for example Canada, and also to 'trading blocs' like the EU and NAFTA. Often the GDP divided by the population is used as a measure of relative prosperity.

GDP=C + I + G + ( X-Im )

C=Consumption Expenditure

I=Investment

G=Government Expenditure

X=Export

Im=Import

Answer 2

Gross Domestic Product

The total market value of all the goods and services produced within the borders of a nation during a specified period. (Dictionary)

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GDP that is the Gross Domestic Product is the value of a country's overall output of goods and services (typically during one fiscal year) at market prices, excluding net income from abroad. 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. Refer to link below.

Answer 3

Gross Domestic Product. It is the production between the three sectors (primary, secondary, services) of a country's economy during a particular year.

Answer 4

There is no special government definition of GDP. GDP is defined as the value of goods and services that have been produced within a specific time period in a country.

Answer 5

It measures the amount of the production. It doesn't stand for a nation's wealth.

Answer 6

Gross Domestic Product.