Gross Domestic Product
Gross Domestic Product (GDP) is an economic measure that represents the total financial value of all goods and services produced within a country's borders during a specific time period. It serves as an indicator of a nation's economic health, showing the size and performance of its economy. GDP can be calculated using three approaches: the production approach, the income approach, and the expenditure approach. A growing GDP typically indicates economic expansion, while a declining GDP may signal contraction or recession.
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