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In economics, the grossdomesticproduct (GDP) is a measure of the amount of the economic production of a particular territory in financial capital terms during a specific time period.
GDP differs from gross national product in excluding inter-country income transfers, in effect attributing to a territory the product generated within it rather than the incomes received in it.
GDP doesn't measure the sustainability of growth, as a country may achieve a temporary high GDP by over-exploiting natural resources.
GDP differs from gross national product (GNP) in excluding inter-country income transfers, in effect attributing to a territory the product generated within it rather than the incomes received in it.
Buying financial products is classed as saving in macroeconomics, as opposed to investment (which, in the GDP formula is a form of spending).
GDP doesn't take into account the fl economy and the non-monetary economy Hence, in countries with major business transactions occurring informally, portions of local economy are not easily registered, resulting in inaccurate or abnormally low GDP figures.
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