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What is gdp? how is it calculated?

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Hey mate-------------------
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here's ur answer⬇⬇⬇⬇⬇⬇⬇:-) :-)

• Gross Domestic Product (GDP) is the broadest quantitative measure of a nation's total economic activity. 

• It also represents the monetary value of all goods and SERVICES produced within a nation's geographic borders over a SPECIFIED PERIOD of time.

• The following equation is used to calculate the GDP: 

GDP = C + I + G + (X – M) or GDP = private consumption + gross investment + government investment + government spending + (exports – imports). Nominal value changes DUE to shifts in quantity and price.

HOPE IT HELPS U :-)


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