Resolved Question
What is basically a GDP?
again,please help me answer with simplicity and metaphor for better understanding.
about 1 year ago
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Hi,
GDP = Gross Domestic Product
Basically, it is the value of all the goods and services produced within a country.
In simple terms, GDP for a country is like the revenue of a company.
Hope it helps!
about 1 year ago
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Answers (2)
Gross domestic product or GDP is the broadest measure of economic growth. Like what is said above, it measures the total value of all final goods and services that are produced within an economy. It is usually reported as a percentage change of growth from the previous quarter.
about 1 year ago
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GDP is basically the report card for the entire economy. It takes into account consumer spending, government spending, investment, exports and imports. As such, this figure provides a sort of summary for the economy's performance for a certain period of time.
about 1 year ago
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