Gross domestic product

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The gross domestic product (GDP) is a way to measure the growth of a country's economy. GDP is defined as the total cost of all completed goods and services produced within the country across a specific period of time, typically a calendar year. It is sometimes calculated as the sum of profits added at every level of production (the intermediate stages) of all final goods and services produced within a country across a timeframe, and it is rarely given a money value.[1]

References

  1. Gross Domestic Product. QuickMBA.