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) is the total value of all goods and services produced within a given period (typically a year) by a national economy through domestic factors of production (including labor and capital). It measures the size of an economy and is often used as an indicator of economic growth and development.

Which of the Following BEST Gives the Meaning of the Term