16 October 2013
GDP stands for Gross Domestic Product. The Gross Domestic Product measures the value of economic activity within a country. Strictly defined, GDP is the sum of the market values, or prices, of all final goods and services produced in an economy during a period of time.
The total market value of all final goods and services produced in a country in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports..
GDP = consumption + gross investment + government spending + (exports − imports)
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