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Gross Domestic product per Capita 22 Feb Gross domestic product (GDP) (see also gross domestic income) refers to the market value of all goods and services produced within a country in a given period. It is often considered an indicator of a country's standard of living.[1].[2] Gross domestic product is related to national accounts, a subject in macroeconomics. GDP can be determinedâ¦
GDP (Gross Domestic Product) is the total monetary value of goods and services produced over a given period in a given. territory. GDP is used in macroeconomics for determining the economic performance of individual states. The word product. expresses increase of wealth. The period is usually a year. Change in GDP for a certain period reflects the speed of economic. growth of the country. In international comparisons adjusted GDP per capita is also used, which can be used as a rough measure.