The Gross Domestic Product (GDP) is the total market value of all final goods and services produced within a country's borders in a specific time period, typically annually or quarterly. It is measured by:
1. Money: GDP is measured in monetary terms, usually in the country's currency like dollars or euros. The GDP represents the total value of all goods and services produced, which is calculated by adding up consumption, investment, government spending, and net exports.
2. Market Research, Popularity, and Stock Loss are not measures of GDP. GDP is a comprehensive indicator used to gauge the economic performance and health of a country by reflecting the total value of its economic output.
Understanding GDP helps in assessing the overall economic activity within a country, tracking changes in production levels, comparing living standards between countries, and formulating economic policies to promote growth and stability.
