GDP full form:
The full form of GDP is Gross Domestic Product.
you must have heard about the word GDP and you also want to know the details about GDP.
so, here is the answer to your question: "What is GDP?"
What is GDP?:
before giving you details about GDP we want you to know that GDP has many definitions given by different bodies(organization) on the basis of different parameters.
The general definition of GDP:
GDP (Gross Domestic Product) is a monetary measure of the market value of all the total goods and services produced in a country in a specific period of time.
few more definitions of GDP(Gross Domestic Product):
According to OECD , GDP (Gross Domestic Product) is defined as " an aggregate measure of production equal to the sum of gross values added of all residents and institutional units engaged in production and services ( including the addition of any taxes, minus any subsidies, on products not included in the value of their outputs).
According to an IMF publication, "GDP measures the monetary value of final goods and services --that are bought by the final user-- produced by a country in a given period of time.
image of GDP(Gross Domestic Product)
According to an IMF publication, "GDP measures the monetary value of final goods and services --that are bought by the final user-- produced by a country in a given period of time.
image of GDP(Gross Domestic Product)
History of the word GDP:
During the year 1654, a person named William Petty came up with a basic concept of GDP to stop landlords from taking unfair taxes during the warfare between Dutch and the English. This concept was into action up to 1676. After William Petty, a person named Charles Davenant modified this method in 1695.
In 1934, the modern concepts were introduced by Simon Kuznets for the US congress report.
In 1944, after the Bretton Woods Conference, GDP became the most important tool for measuring any country's economy. Before the method of GDP,, the method of GNP was into the light to measure a country's economy.
This was all a brief information about the History of GDP.
full form of GDP
full form of NSS
full form of NCC
full form of NRC
ok full form
In 1934, the modern concepts were introduced by Simon Kuznets for the US congress report.
In 1944, after the Bretton Woods Conference, GDP became the most important tool for measuring any country's economy. Before the method of GDP,, the method of GNP was into the light to measure a country's economy.
This was all a brief information about the History of GDP.
The myth related to GDP:
'A very common myth is that they think GDP is measured annually. This is totally not true, GDP can be calculated annually as well as quarterly. '
for example, America calculates its GDP annually as well as a quarterly( every three months).
Here is information about the full form of some other topics:
Here is information about the full form of some other topics:
full form of GDP
full form of NSS
full form of NCC
full form of NRC
ok full form