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What is Gross Domestic Product (GDP)

Eco-Friendly and Agile Energy Strategies and Policy Development
Gives the total value of goods and services produced in a specific time frame, usually a year. It is a popular indicator in the economic sphere but does not apply in the social sphere.
Published in Chapter:
Interplay Consequences of COVID-19 on Global Environmental Sustainability
Mir Sayed Shah Danish (University of the Ryukyus, Japan), Tomonobu Shah Senjyu (University of the Ryukyus, Japan), Najib Rahman Sabory (University of the Ryukyus, Japan), and Alexey Mikhaylov (Financial University Under the Government of the Russian Federation, Russia)
Copyright: © 2022 |Pages: 20
DOI: 10.4018/978-1-7998-9502-2.ch003
Abstract
This chapter outlines the essentials of COVID-19 and its relation to environmental mitigation. The COVID-19 pandemic has altered the ranking concern of climate change distress, and it is ranking as the first global priority to be adequately tackled. However, the pandemic demonstrates with economic, social, and cultural constraints. Still, climate change and environmental pollution have been ignored as the utmost precaution while their impact is more severe in the long run. This chapter evaluates available opportunities for environmental sustainability in the pandemic era. At the same time, the most significant aspect of solid waste, especially clinical waste, is critical for limiting pandemics and preventing future consequences of improper waste management. Sustainable production relies on criteria that ensure affordability, accessibility, use efficiency, safety, disparity, and other factors of production, supply, distribution, and consumption that are efficient, cost-effective, and environmentally friendly.
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Lessons From COVID-19 Conferring Environmental Re-Engineering Opportunity
Gives the total value of goods and services produced in a specific time frame, usually a year. It is a popular indicator in the economic sphere but does not apply in the social sphere.
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Tourism and the Poverty Challenge: A Glance in Cape Verde
Is the most commonly used measure of economic activity to track the health of a nation’s economy. It represents the value of all goods and services produced over a specific time period within a country’s borders.
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Characteristics of Innovation in the Arabic Countries
The sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. (See the World Bank, World Development Indicators, 2015 AU179: The in-text citation "World Development Indicators, 2015" is not in the reference list. Please correct the citation, add the reference to the list, or delete the citation. : August 23, 2015: http://data.worldbank.org/indicator/NY.GDP.MKTP.CD ).
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Impact of Information and Communication Readiness on the Tourism Industry: A Dynamic GMM Approach
Gross domestic product (GDP) is the standard measure of the value added created through the production of goods and services in a country during a certain period. As such, it also measures the income earned from that production, or the total amount spent on final goods and services (less imports).
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Economic and Social Impacts of COVID-19 on European Tourism
GDP is equal to the sum of the gross value added of all resident institutional units engaged in production, plus any taxes on products and minus any subsidies on products. Gross value added is the difference between output and intermediate consumption.
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The Impacts of the COVID-19 Outbreak on the Education Sector: Evidence From Pakistan
It is the total value or market value of all completed goods and services produced within national borders over a period of time. As a comprehensive measure of a complete domestic product, it serves as a complete credit card for the economic life of a particular country.
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Analysing the Relationship Between SMME Geographic Coverage and E-Commerce Adoption
Is the monetary value of all finished goods and services made within a country during a specific period.
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International Trade, Economic Growth, and Turkey
GDP is the total value of goods and services sold in the course over the course a year.
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Wearables, Artificial intelligence, and the Future of Healthcare
It is measure of total economic activity in a country.
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The Empirical Analysis of Cloud Computing Services among the Hungarian Enterprises
It is the market value of all officially recognized final goods and services produced within a country in a year, or over a given period of time. GDP per capita is often used as an indicator of a country's material standard of living.
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Tax Incentives for Tourism: The Case of Portuguese Municipalities
A term to describe the sum of all final goods and services produced by a country, state, or city, usually in a year.
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How to Deal With Corporations' Complicatedness: A Brazilian Example
Is the standard measure of the value added created through the production of goods and services in a country during a certain period. As such, it also measures the income earned from that production, or the total amount spent on final goods and services (less imports). While GDP is the single most important indicator to capture economic activity, it falls short of providing a suitable measure of people's material well-being for which alternative indicators may be more appropriate.
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Comparing China's and India's Evolution of Broadband Internet in the Developing World
The sum of the total value of consumption expenditure, total value of investment expenditure, and government purchases of goods and services.
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International Visitors to Las Vegas: A 10-Year Economic and Cultural Analysis of High-Growth Markets
This is a comprehensive measure of economic activity for a country, state, city, or region. As one example, as of the writing of this chapter, the GDP of France was over $2.5 trillion USD, and the economy of the Paris metropolitan area generates about one-third of the French GDP.
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The Future of Trade Fairs After the COVID-19 Pandemic
GDP is the total market value of all the finished goods and services produced within a country's borders in a specific time.
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Global Health Crisis: The Microeconomic and Socio-Dynamic Implications of COVID-19 Pandemic in Sub-Saharan Africa
It is the total market value of all final goods and services produced within a country's borders during a specific time period. It is considered to be a broad measure of overall domestic production and determination of the state of the economy.
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COVID-19 Policy Actions for the Recovery of the Tourism Industry and a Discussion for the Post-COVID Era
It’s the total market value of all finished goods and services produced within a country’s borders in a given time period (generally a quarter or a year).
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Financial Misreporting and Corporate Governance Lapses: A Deep Dive Into the 1MDB Scandal in Malaysia
The total value of goods produced and services provided in a country during one year, often used as an indicator of a country's economic performance.
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The Impact of Macroeconomic Indicators on Unemployment Rate: Western Balkan Countries
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 can be calculated on a quarterly basis as well.
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Global Digital Divide
Is the sum of the total value of consumption expenditure, total value of investment expenditure, and government purchases of goods and services.
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A Case Study on the United Arab Emirates (UAE) as a Digital Economy Exemplar
Gross domestic product (GDP) is the economic health card of any given nation. It measures the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period.
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Economic Valuation and Cost of Air Pollution
Total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period.
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Transforming Moldovan Higher Education: Past, Present, and a Look to the Future
The total value of goods produced and services provided in a country in one year.
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Sustainability of SMEs and Health Sector in a Dynamic Capabilities Perspective
It is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of the country's economic health. The top economic goal of most nations is growth. If a country's GDP goes flat, that's stagnation. If it falls for more than two quarters is an economic decline. No country has a GDP growth target of less than about 2%, except when recovering from a recession. Therefore, the de facto definition of economic sustainability is steady growth in total national GDP of a minimum of about 2% per year.
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Global Economic Issues and Policies Impacting Rural Sociology (Module ELT Approach): Understanding the Role of Global Economy in Community Mobilization for Sustainable Growth
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Resilient Entrepreneurial Strategies Adopted by Zimbabwean Small and Medium Enterprises During Economic Crisis
The monetary value of all goods and services produced within an economy over a given period of time usually a year.
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Trends in Health Care Information Technology and Informatics
Represents the monetary value of all goods and services produced within a nation's geographic borders over a specified period of time.
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Global Market Trends
The total final output of goods and services (in monetary terms) produced by a country within its territory by the residents and non-residents, regardless of its allocation between domestic and foreign claims.
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Currency Crisis in Developing Countries
It is the total value of goods and services produced domestically by a country during a year.
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