What is meaning of GDP IN SIMPLE LANGUAGE SIR - Economics - Introduction

Question

What is meaning of GDP IN SIMPLE LANGUAGE SIR

Gursheen Kaur · Accepted Answer

Answer)
Gross Domestic Product (GDP)
The monetary value of all the finished goods and services
produced within a country's borders in a specific time period,
though GDP is usually calculated on an annual basis It includes all
of private and public consumption, government outlays, investments
and exports less imports that occur within a defined territory

GDP = C + G + I + NX
"C" is equal to all private
consumption, or consumer spending, in a nation's economy
"G" is the sum of government
spending
"I" is the sum of all the
country's businesses spending on capital
"NX" is the nation's total net
exports, calculated as total exports minus total imports (NX =
Exports - Imports)