What Does Gross Domestic Product Mean?

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What does Gross Domestic Product mean? Read on to discover the definition & meaning of the term Gross Domestic Product - to help you better understand the language used in insurance policies.

Gross Domestic Product

Gross Domestic Product

The total market value of all final goods and services produced within a country during a given period. GDP per capita is often used to assess a given country's standard of living.

We hope the you have a better understanding of the meaning of Gross Domestic Product.

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