What is GDP? Why does it matter?

Gross Domestic Product (GDP) is a measure of the total economic output of a country or region.

It is the value of all goods and services produced within a given period, usually a year.

GDP is an important indicator of a country's economic health, as it captures the total economic activity of a country or region.

GDP is used to measure the size of a country's economy and its growth rate.

GDP per capita is used to compare the economic development of different countries.

In addition to being an important economic indicator, GDP is also used to determine the country's eligibility for international aid and assistance.

GDP is also used to measure the impact of government policies, such as taxation and spending, on the economy.

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