Difference between revisions of "Gross Domestic Product"
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== Definition == | == Definition == | ||
| − | '''Gross Domestic Product'''. An economic indicator representing the broadest measure of aggregate economic activity, measuring the total unduplicated market value of all final goods and services produced within a statistical area in a period | + | '''Gross Domestic Product''' (GDP). An economic indicator representing the broadest measure of aggregate economic activity, measuring the total unduplicated market value of all final goods and services produced within a statistical area in a period. |
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| + | The market value of the flow of all final goods and services produced within a country in a given year. | ||
GDP represents a valuation expressed in terms of the prices actually paid by the purchaser after all applicable taxes and subsidies. | GDP represents a valuation expressed in terms of the prices actually paid by the purchaser after all applicable taxes and subsidies. | ||
Revision as of 15:43, 22 May 2021
Definition
Gross Domestic Product (GDP). An economic indicator representing the broadest measure of aggregate economic activity, measuring the total unduplicated market value of all final goods and services produced within a statistical area in a period.
The market value of the flow of all final goods and services produced within a country in a given year.
GDP represents a valuation expressed in terms of the prices actually paid by the purchaser after all applicable taxes and subsidies.
See Also
- BEA's Handbook of Methods for GDP and related national accounts, available at https://www.bea.gov/methodologies/index.htm#national_meth
- http://www.treasury.gov/initiatives/ofr/about/Documents/AR2013_Back_Matter_Glossary+Bib_Refs+Endnotes.pdf
- https://en.wikipedia.org/wiki/Gross_domestic_product
Disclaimer
This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.
