GDP

GDP means the total value of goods and services produced inside a country during a certain period. In simple terms, GDP shows how much a country produced. It is often used to measure the size and growth of an economy. When GDP is rising, the economy is usually producing more goods and services. When GDP growth slows or falls, the economy may be weakening. For example, cars, food, medical services, and education services produced inside a country can all count toward GDP. GDP does not directly measure happiness, equality, or quality of life. A country can have a large GDP because it has many people, so GDP per capita is often used to compare average economic output per person.