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Eco Help (1 Viewer)

cricket_freak

cricket_freak

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Can anyone pl tell me a simple yet correct definition for the Gross World Product?

thankyou

cricket_freak
 
Rafy

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"The aggregate value of all goods and services produced worldwide in a given year."

Basically the combined value of GDP of ALL countries.
 
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Riviet

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Also, GDP (gross domestic product) is the aggregate value of all goods and services produced in a particular economy (country) in a given year.
 
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Demandred

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Rafy said:
"The aggregate value of all goods and services produced worldwide in a given year."

Basically the combined value of GDP of ALL countries.
Click to expand...
Not quite there, just to supplement it: market value of all final goods .

You won't believe how important these two terms are.
 
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