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Gross domestic product

4:36

What is Gross Domestic Product (GDP)?

7:52

Gross Domestic Product – Economic Lowdown

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Economics: GDP and Economic Growth

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GDP and the Circular Flow- Macro Topic 2.1

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What is GDP? | CNBC Explains

Gross domestic (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time. Nominal GDP estimates are commonly used to determine the economic performance of a whole country or region, and to make international comparisons. Nominal GDP per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore using a basis of GDP per capita at purchasing power parity (PPP) is arguably more useful when comparing differences in living standards between nations.