gross domestic product

The total market value of all the goods and services produced within the borders of a nation during a specified period. GDP is used as an indicator of the economic health of a country, however, many people agree it is not a good indicator of well-being since GDP includes the cost of negative influences on well-being such as war, environmental toxic spill clean-ups, and natural disaster.

gross domestic product. (n.d.) The American Heritage® Dictionary of the English Language, Fourth Edition. (2003). Retrieved November 13 2014 from

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