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Q.

Full form of GDP is ____


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Detailed Solution

GDP stands for Gross domestic product.
GDP is the monetary value of all the goods and services produced in the economy during a particular period. It is a quantitative measure that reflects the potential increase in the number of transactions that have taken place in an economy. It can also be measured as the increase in the aggregate market value of goods and services produced using the gross domestic and national products. It is a narrow concept as compared to human development.
 
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