Definitions by Ward
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xliljimmy69x by Ward April 26, 2004
GDP
Gross domestic product (GDP) equals the market value of final goods and services produced in a country during a given period.
GDP is an aggregate of the market values of the many goods and services produced in the economy. Final goods and services (which include capital goods, such as factories and machines) are counted in GDP. In practice, the value of final goods and services is determined by the value-added method. Only goods and services produced within a nation's borders are included in GDP.
GDP is an aggregate of the market values of the many goods and services produced in the economy. Final goods and services (which include capital goods, such as factories and machines) are counted in GDP. In practice, the value of final goods and services is determined by the value-added method. Only goods and services produced within a nation's borders are included in GDP.
The United States GDP in 2002 was $9,613 billion.
China's GDP in 2002 was $5,019 billion.
Japan's GDP in 2002 was $3,394 billion.
India's GDP in 2002 was $2,395 billion.
China's GDP in 2002 was $5,019 billion.
Japan's GDP in 2002 was $3,394 billion.
India's GDP in 2002 was $2,395 billion.