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1 sir please tell me what does gross domestic product means ,by searching in google i found is is the measure of size of economy but could also don’t understand it fully
2 and my another question is if there is overall growth in gross domestic product then there is increased demand for for goods eg dishwasher and services eg holidays
( if there is overall growth in gross domestic product then there is increased demand for for goods eg dishwasher and services eg holidays )
with in brackets is taken from BPP BOOK chapter 2 page no 27 study text up to jun 2015
All you would need to know about GDP for P3 (and I’m not even sure you need to know it) is that GDP is a measure of the size of an economy. You certinly don’t need to know its technical definition.
As economies grow (GDP increases) then there will be increased demand for goods and services. Or, increased demand for goods and services produces a higher GDP.
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