GDP measures the monetary value of final goods and servicesâthat is, those that are bought by the final userâproduced in a country in a given period of time (say a quarter or a year). It counts all of the output generated within the borders of a country.
Product audit â An examination of a particular product or service (hardware, processed material, software) to evaluate whether it conforms to requirements (that is, specifications, performance standards, and customer requirements). Process audit â A verification that processes are working within established limits.
What is a Product Audit ? The product audit is the assessment of the final product/service and its qualification for use evaluated versus the intent of the purpose of the product/service. It ensures a thorough inspection of a final product before delivery to a supplier or a customer.