gross domestic product (GDP), Total market value of the goods and services produced by a nationās economy during a specific period of time. GDP is customarily reported on an annual basis. It is defined to include all final goods and servicesāthat is, those that are produced by the economic resources located in that nation regardless of their ownership and are not resold in any form. GDP differs from gross national product (GNP), which is defined to include all final goods and services produced by resources owned by that nationās residents, whether located in the nation or elsewhere.
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gross domestic product summary
Below is the article summary. For the full article, see gross domestic product.