gdp full form

What is the Full Form of GDP


Full Form of GDP/GDP full form

The Full form of GDP/GDP full form is Gross Domestic Product.. GDP is said to be the total market value of all goods and services produced in the country in a particular span of time. Below are some details which GDP explains.

gdp full form

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  1. GDP quantifies the monetary value of final goods and services i.e those that are bought by the end user produced in a country in a given period of time.
  2. GDP is used to calculate the size of an economy and overall growth or decline in the economy of a nation. A country having good GDP is considered as a good country for living purpose. In India,
  3. The three main sectors that contribute to GDP are industry, service sector and agriculture services.
  4. GDP is the primary indicator to determine the growth of a country’s economy.
  5. The general formula to calculate GDP = private consumption + gross investment + government spending + (exports – imports)

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