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GDP
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A country's Gross Domestic Product (GDP) is a measure of the total flow of goods and services produced over a specified time period, usually a year.
The word "gross" means that no Deduction for the value of expenditure on capital goods for replacement purposes is made. The word "domestic" means that income arising from investment and possessions owned abroad is not included. This distinguishes GDP from Gross National Product (GNP).
It measures of national income and output for a given country's economy. GDP is defined as the total Market value of all final goods and services produced within the country in a given period of time (usually a calendar year). It is also considered the sum of value added at every stage of production (the intermediate stages) of all final goods and services produced within a country in a given period of time, and it is given a money value.
GDP = consumption + gross investment + government spending + (exports - imports).
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