FULL FORM OF GDP

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FULL FORM OF GDP



        GDP stand for gross Gross Domestic Product.
        There are three sectors in the economy first Primary Sector ie Agricultural Sector and related sector second secondary sector ie Industrial sector and third sector is tertiary sector or service sector.

HOW GDP CALCULATED



       The value of final goods and services produced in each sector during a particular year provides the total production of the sector for that year.The sum of production in the three sectors gives what is called the Gross Domestic Product of a country.It is the value of all final goods and services produces within a country during a particular year .GDP shows how big economy of that country is.


EFFECT OF GDP


    It indicates the economic health of the country  as well as specifies the living standard of the people of a specific country,if the GDP increase the living standard of of the people of that country increase . A country having good GDP considered as a developed country.

  
     
     

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