Define gdp pls give fast ans?

Answers (1)

Gross Domestic Product is a quantitative measure of how much an economy produces. It includes the Monetary Value of goods & services within a specific Nation’s border.

GDP helps us to understand the financial health of a country. Investors often use GDP to determine whether the economy is Rising or in Recession then make their decisions according to their Data.

 

The formula of GDP is as follows-

 

Personal & public consumption + Public & private Consumptions + Govt. Expenditures + (Import - Export) = GDP

 

You must find each individual component in the formula which includes 

Consumption,  Government expenditures, Public & private Investments, Net Exports 

 

Exports are added to GDP while on the other hand Imports are deducted from the GDP

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