Gross Domestic Product (GDP)

Gross Domestic Product

Gross Domestic Product is defined as the total production for the country.  It is measured by including all the dollars spent to purchase products/services from all the various sellers of goods.  The largest purchaser of products/services is consumers.  Coming in behind consumers are businesses, remember they are buying goods too.   This includes everything from office supplies to the raw materials to make the products the consumers ultimately purchase.