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Updated: 9/2/2020
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  • Hello, Pillu.
  • Sir, Can you tell me What is GDP?
  • Hello, Sir
  • Pillu, GDP is the most commonly used measure of economic activity.
  • Sir, What is Its Full Form?
  • Pillu, GDP stands for "Gross Domestic Product" and represents the total monetary value of all final goods and services produced (and sold on the market) within a country during a period of time (typically 1 year).
  • Sir, Who invented it?
  • Pillu, The first basic concept of GDP was invented at the end of the 18th century. The modern concept was developed by the American economist Simon Kuznets in 1934 and adopted as the main measure of a country's economy at the Bretton Woods conference in 1944.
  • Sir, Tell me some more.
  • It's ok Pillu.
  • Thank You Sir.
  • By Rohan Verma
  • Thank You ForReading
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