Gross Domestic Product (GDP)

The Gross domestic Product (GDP) is the market value of all final goods and services produced within a country in a given period of time.

Formula: GDP=C+I+G+(X−M)

GDP = private consumption + gross investment + government investment + government spending + (exports – imports)

Real GDP growth is the value of all goods produced in a given year.

Nominal GDP is value of all the goods taking price changes into account

Leave a Comment