Gross Domestic Product of a country is the total market value in monetary terms of the final goods and services produced in the country within its borders in a specific period of time that is generally one year.
It is calculated as the sum of the private consumption (C), investments (I), government expenditures (G) and the net exports (NX) of the country in that period of time. This is usually shown as,
GDP = C + I + G + NX
GDP generally indicates the economic health of a nation and its standard of living.
Browse the definition and meaning of more terms similar to Gross Domestic Product. The Management Dictionary covers over 7000 business concepts from 6 categories. This definition and concept has been researched & authored by our Business Concepts Team members.
Search & Explore : Management Dictionary
Write for Us!
Quizzes & Skills!
Quizzes test your expertise in business and Skill tests evaluate your management traits
Related Business Content
Top Companies Lists
