Tuesday, September 8, 2009

What is gross domestic product (GDP) per capita?

An approximation of the value of goods produced per person in the country, equal to the country's GDP divided by the total number of people in the country.

The gross domestic product (GDP) or gross domestic income (GDI) is one of the measures of national income and output for a given country's economy. GDP is defined as the total market value of all final goods and services produced within the country in a given period of time (usually a calendar year). It is also considered the sum of value added at every stage of production (the intermediate stages) of all final goods and services produced within a country in a given period of time, and it is given a money value.

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