What is GDP?

I would like it for someone who doesn't understand economy at all. Please help

Kherova2014-05-15T11:09:37Z

Favorite Answer

Well explain it like: "Image we are trying to assess how much Bob is worth. Now we could just go by how much Bob has in the bank, but if he only has $1000 bucks in the bank, but is a famous painter with 5 pieces worth a half a mil each, then it doesn't do much good to say Bob isn't worth much. Well if we are trying to assess how much a country is worth, we could go by what is in the bank, but a better way is to look at the value of the things it produces to. All the things a country produces has value, and that is GDP."

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?2014-05-15T11:05:04Z

Gross Domestic Product. The goods and services that are associated within that state's/nation in a monetary value.?

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Anonymous2014-05-15T11:01:42Z

Grade Deficiency program. It is used for people that lack common knowledge and basic studies. It helps those people to succeed and prosper the economy as janitors

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