<b>Gross Domestic Product</b> A measure of the total flow of goods and services produced by the economy over a specified period, normally a year. Because income arising from investments and possessions owned abroad is not included, only the value of the flow of goods and services produced in the country is estimated. Hence the word 'domestic' to distinguish it from the Gross National Product.
Therefore GDP is a measure of an economy's economic performance. It is the market value of all goods and services produced within the boundaries of a country.
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