gross domestic product
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See also: gross-domestic-product
- (economics) A measure of the economic production of a particular territory in financial capital terms over a specific time period.
- 2013 August 3, “Boundary problems”, in The Economist, volume 408, number 8847:
- Economics is a messy discipline: too fluid to be a science, too rigorous to be an art. Perhaps it is fitting that economists’ most-used metric, gross domestic product (GDP), is a tangle too. GDP measures the total value of output in an economic territory. Its apparent simplicity explains why it is scrutinised down to tenths of a percentage point every month.
economic production of a particular territory