want is meant by GDP?

Question

that's Gross National Product

Answer 1

Gross Domestic Prodect is the amount of money the country makes before taxes.

Answer 2

Gross Domestic Product

Answer 3

Gross Domestic Product.

Answer 4

GDP= Gross Domestic Product, it's how much money a country makes.

Answer 5

Economists adopted GDP 12 or 15 years ago to replace GNP (Gross national product) as the primary measurement of economic activity. The two are similar but defined a bit differently.

As a measurement of economic activity, GDP attempts to capture for a given time period the total value of the trade of all goods and services in the market economy, that are created within the country in question. A couple of caveats:

1) It avoids double-counting: so it counts the retail sale of a car, but not the wholesale supply of the car from the vehicle manufacturer to the car dealer, for example, since all the costs are built-in to the final sale.

2) it just counts domestically-created value, so the value of exports is included but the value of imports is subtracted (though the domestic part of value-added business on an import counts, such as the retailer's markup in selling an imported good.)

3) It only counts market activity -- exchanges where money trades hands. If you go to a barber for a shave, that counts. If you just shave yourself at home, that does not count.

Answer 6

Though the literal meaning of GDP in economic means gross domestic product but i would say that it is the most misleading figure that i have ever witnessed. i would rather say it "gross domestic poverty".
There is a reason why i am so cynical.
The Economists, PM, governments are saying that the country is progressing because GDP is growing above 8%. it means the income of the product and country men is increasing. But i would ask who are these people, getting benefit from this increased figures. They are certainly the richest of rich. where are the poor, spacing in this so much hyped statistics.
In this country we are producing the billionaire but not doing anything for 60% poor class.

Answer 7

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Answer 8

GDP according to economics is Gross Domestic Product, it is total of the products produced in that particular country itself in one year

Answer 9

Gross domestic product

Answer 10

Gross Domestic Product. This means how much is our country earning from farming,industry,etc etc...from all segment. Our country could achieve 9% GDP in 2006-07 financial year.