Gross Domestic Product (GDP)
Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of a given country’s economic health.
Though GDP is typically calculated on an annual basis, it is sometimes calculated on a quarterly basis as well.
● Gross Domestic Product (GDP) is the monetary value of all finished goods and services made within a country during a specific period.
● GDP provides an economic snapshot of a country, used to estimate the size of an economy and growth rate.
● GDP can be calculated in three ways, using expenditures, production, or incomes. It can be adjusted for inflation and population to provide deeper insights.
● Though it has limitations, GDP is a key tool to guide policymakers, investors, and businesses in strategic decision making.
⠀ What Is Gross Domestic Product (GDP)? [Електронний ресурс] / STAFF AUTHOR. – 2020. – Режим доступу до ресурсу: https://www.investopedia.com/terms/g/gdp.asp.