Write short notes on the following:

Gross Domestic Product

Created: 3 months ago | Updated: 3 months ago

Job Solution সাধারণ বীমা কর্পোরেশন সাধারণ বীমা কর্পোরেশন || সহকারী ম্যানেজার (12-07-2019) || 2019 English

Gross Domestic Product

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. GDP includes all private and public consumption, government outlays, investments, additions to private inventories, paid-in construction costs, and the foreign balance of trade (exports are added, imports are subtracted).

➤ Nominal GDP is the measurement of the raw data.

➤ Real GDP takes into account the impact of inflation and allows comparisons of economic output from one year to the next and other comparisons over periods of time.
➤ GDP growth rate is the increase in GDP from quarter to quarter.

➤ GDP per capita measures GDP per person in the national populace; it is a useful way to compare GDP data between various countries.

3 months ago