Which of the following best gives the meaning of the term gross domestic product?
A) Total quantity of goods and services produced by an economic system
B) Total quantity of goods that a country's citizens can purchase with the currency used in their economic system
C) Conditions of the economic system in which an organization operates
D) Total value of all goods and services produced within a given period by a national economy through domestic factors of production
E) Indicators of available goods and services produced within a specific domestic market

Question

Quizplus · Accepted Answer

Gross Domestic Product (GDP) refers to the value of all goods and services produced within a given period by a national economy through domestic factors of production. This includes goods and services produced by both individuals and businesses within a country's borders, regardless of ownership. GDP is often used as a measure of the size and health of a country's economy.

Which of the Following Best Gives the Meaning of the Term