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Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946

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BuyFindarrow_forward

Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946
Textbook Problem

Define gross domestic product. Why is this economic measure significant?

Summary Introduction

To determine: Defining gross domestic product and its significance.

Introduction: The term business is defined as the planned exertion of people to manufacture and trade, for revenues, the goods and services that fulfill the requirements of the people. A business must be designed in such a way that it is managed efficiently, gratify the needs and should make profits.

Explanation

Gross Domestic Product (GDP): It is the largest significant evaluation of a country's aggregate economic movement. GDP speaks to the money related estimation all things considered and benefits created inside a country's geographic borders over a predetermined timeframe...

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