Full Form of GDP

Full Form of GDP is Gross Domestic Product. Gross Domestic Product (GDP) is the monetary value of all the final goods and services produced within a country’s borders during one year.

Though GDP is usually calculated on an annual basis, it can be calculated on a quarterly basis also. GDP is used by the WORLD BANK or the IMF to do comparative analysis of its members. Percentage change per annum in the growth rate of an economy is known by use of it. It is a quantitative aspect for the country and its size gives the estimate about the internal strength of economy.

Frequently asked questions answered above:
What is full Form of GDP?
By whom GDP is used?
What is the purpose of GDP?

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