kogutoodangus

Kogutoodangus, often translated as gross domestic product (GDP), is a fundamental measure of a country's economic activity. It represents the total monetary value of all the finished goods and services produced within a country's borders during a specific period, typically a quarter or a year.

The calculation of GDP can be approached from three different perspectives: the expenditure approach, the income approach, and the production (or value-added) approach. The expenditure approach sums up all spending on final goods and services, including consumption by households, investment by businesses, government spending, and net exports (exports minus imports). The income approach aggregates all incomes earned by individuals and businesses within the country, such as wages, profits, rents, and interest. The production approach measures the value added at each stage of production across all industries.

GDP is a widely used indicator for assessing the health and growth of an economy. A rising GDP generally signifies economic expansion, while a declining GDP can indicate a recession. However, GDP does not account for non-market activities, income inequality, environmental degradation, or the quality of life, and therefore should be considered alongside other economic and social indicators for a comprehensive understanding of a nation's well-being.