Gross domestic product

Gross Domestic Product (GDP) is a monetary measure of the total market value of all final goods and services produced and rendered in a specific time period by a country or countries. GDP is often used to measure a country's economic performance and standard of living, and can be broken down into the contribution of each industry or sector of the economy. However, critics argue that GDP measures were never intended to measure progress, and leave out key externalities such as resource extraction, environmental impact and unpaid domestic work, and alternative indicators such as the Human Development Index may be more useful for measuring human development and well-being.learn more on wikipedia