BBA management topics

What is Gross Domestic Product – Understand GDP

Many professions commonly use acronyms. To doctors, accountants, and baseball players, the letters MRI (magnetic resonance imaging),GAAP (generally accepted accounting principles), and ERA (earned run average), respectively, need no explanation. To someone unfamiliar with these fields, however,without an explanation these acronyms are a stumbling block to a better understanding of the subject at hand.-Economics is […]

UG degree

What is GDP? GDP definition

What does gross domestic product mean? “Gross” signifies that no deduction has been made for the depreciation of machinery, buildings and other capital products used in production. “Domestic” means that it is production by the resident institutional units of the country. The products refer to final goods and services,that is, those that are purchased, imputed […]