gross domestic product

(noun)

(GDP) The market value of all officially recognized final goods and services produced within a country in a year; often used as an indicator of a country's material standard of living.

Related Terms

(noun)

(GDP) The market value of all officially recognized final goods and services produced within a country in a year, or over a given period of time; often used as an indicator of a country's material standard of living.

Related Terms

Examples of gross domestic product in the following topics:

  • Economic measures

    • The Gross Domestic Product or GDP of a country is a measure of the size of its economy.

  • Industrialized Countries

    • Most commonly, the criteria used to evaluate a country's level of development is its gross domestic product (GDP) per capita.
    • Often, national income or gross domestic product (GDP) are used alone to measure how prosperous a nation's economy is.

  • Least Industrialized Countries

    • HDI considers a country's per capita gross domestic product (GDP), per capita income, rate of literacy, life expectancy, basic infrastructure, and other factors affecting standard of living to determine how developed a country is.
    • Low income (a three-year average gross national income of less that $905 USD per capita)
    • Economic vulnerability, based on instability of agricultural production, instability of exports of goods and services, and a high percentage of population displaced by natural disaster, for example.
    • This map shows countries' gross domestic products (GDP) per capita.

  • Unequal Access to Education

    • However, the United States is ranked 37th in the world in education spending as a percentage of gross domestic product.
    • However, the United States is ranked 37th in the world in education spending as a percentage of gross domestic product.

  • Introduction

    • Healthcare is one of the world's largest and fastest-growing industries, consuming over 10 percent of gross domestic product of most developed nations.
    • In 2000, health care costs paid to hospitals, doctors, diagnostic laboratories, pharmacies, medical device manufacturers and other components of the health care system, consumed an estimated 14 percent of the gross national product of the United States, the largest of any country in the world.

  • Industrializing Countries

    • HDI considers a country's per capita gross domestic product (GDP), per capita income, rate of literacy, life expectancy, basic infrastructure, and other factors affecting standard of living to determine how developed a country is.
    • According to research from the World Bank, one challenge facing industrializing nations is how to successfully export products when they do not have pre-existing infrastructures to facilitiate international trade.

  • Industrialization and the Graying of the Globe

    • Most commonly, the criteria for evaluating the degree of development is to look at the gross domestic product (GDP), the per capita income, the level of industrialization, the amount of widespread infrastructure, and the general standard of living.

  • The Role of Government

    • Total U.S. healthcare spending from 1960 to 2007 by percent of GDP (gross domestic product)

  • Mexico's Economy

    • While population doubled from 1940 to 1970, gross domestic product (GDP), the sum of national production and a common measure of economic growth, increased sixfold during the same period.

  • Implications of Different Rates of Growth

    • A new fear for many governments, particularly those in countries with very low fertility rates, is that a declining population will lead to underpopulation and will reduce the gross domestic product (GDP) and economic growth of the country, as population growth is often a driving force of economic expansion.