Gross Domestic Product (GDP)

Discipline: Economics

Gross Domestic Product (GDP) is the value of all goods and services produced in an economy.

Economists consider gross domestic product the main measure of how well the economy is doing. For example, most economists would define it as a recession if the GDP value of an economy declines for two or three consecutive quarters.

Gross Domestic Product (GDP) figures are typically released every quarter, and are analyzed on a quarter or annual basis.

Also see: aggregate demand, aggregate demand theory, aggregate output, aggregate supply, gross national product, real gross domestic product


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