GDP later are not counted. An example

February 22, 2019 February 25th, 2019 General Studies

GDP stands for Gross Domestic Product. GDP is a common measure that’s used to roughly represent the size of a country’s economy. Gross Domestic Product, or GDP, is the measure of how many finished goods and services were produced in a country over the course of a year. Tt only measures finished products, this means that goods that are produced to be added to a different product later are not counted. An example of this is raw steel that is later used to build a car is not counted as part of GDP, but the car itself is. This is the biggest estimator of how the economy as a whole is doing.


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