Gross domestic product. Business & Marketing Essay

Gross Domestic Product (GDP)
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Gross Domestic Product
What is the most important economic principle you learned from the course? How did this information improve your understanding of macroeconomics, and what is its application in the macroeconomic environment?
One of the important economic principles in economics is the GDP one of the most cited macroeconomic indicators. The Gross Domestic Product (GDP) is an economic indicator that reflects the monetary value of all final goods and services produced by a country or region in a certain period of time, usually one year. The GDP measures the economic growth of a country, and countries grow when they use the available resources including human, natural financial material resources to generate economic activity and earn income. Goods, which are tangible products are produced, services which are intangible economic services that meet peoples’ needs and the investments affect production and the economic growth rate.
GDP measures the total production of goods a...