Economic Fundamentals - Gross Domestic Product
A country’s Gross Domestic Product or GDP measures the overall health of a nation’s economy. The Gross Domestic Product is defined as the value of all goods and services produced in a country including consumption, investments, government spending, and exports minus imports during a given year.
Economists chart the health of the economy by measuring the country’s GDP and by monitoring supply and demand models, along with the nation’s business cycle. A country’s economy is always in flux. Periods of increasing output are always followed by periods of falling output. The business cycle has four distinct stages:
Phases Of An Economy