I know the basic definition but it really doesn’t click in my head, kindly shade more light
In: Economics
It’s the total value of all goods and services produced by a country in a specified amount of time. For example, it’s all the bananas, chocolates, haircuts, massage, houses, apartments, cars, radios, cellphones, etc. produced by a country in a specified amount of time (usually a year). We use GDP as a metric of economic growth because we argue that producing more goods and services is better for society (there’s more goods and services available to share with everyone). Hope this helps 🙂
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