Gross Domestic Product (GDP) |Full Explaination with Definition, Characteristics, 4 Main Types, Calculation & Limitation
Gross Domestic Product (GDP) is the monetary value of all finished goods and services produced within a country’s borders in a specific time period. It is a comprehensive measure that reflects the overall economic performance of a nation, encompassing the total value of goods and services generated by businesses, governments, and consumers. GDP serves as a key indicator for assessing the size and health of an economy, providing insight into its level of production and economic activity.
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