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Gross domestic product (0)

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Gross Domestic Product (GDP)
The gross domestic product (GDP) or gross domestic income (GDI) is a measure of a country 's overall economic output.
It is the market value of all final goods and services made within the borders of a country in a year .
It is often positively correlated with the standard of living , alternative measures to GDP for that purpose.

Gross National Product
Gross national product (GNP), in economics , a quantitative measure of a nation 's total economic activity , generally assessed yearly or quarterly.
The GNP equals the gross domestic product plus income earned by domestic residents through foreign investments minus the income earned by foreign investors in the domestic market.
Gross Domestic Product
GDP can be determined in three ways , all of which should in principle give the same result .
  • They are the product (or output) approach , the income approach, and the expenditure approach.
The most direct of the three is the product approach, which sums the outputs of every class of enterprise to arrive at the total.
The expenditure approach works on the principle that all of the product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying things.
The income approach works on the principle that the incomes of the productive factors (" producers ") must be equal to the value of their product, and determines GDP by
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