CHILD DEVELOPMENT PEDAGOGY

Detailed explanation-1: -Economists use many different methods to measure how fast the economy is growing. The most common way to measure the economy is real gross domestic product, or real GDP. GDP is the total value of everything-goods and services-produced in our economy.

Detailed explanation-2: -The gross domestic product (GDP) growth rate measures how rapidly the economy is growing or shrinking. It compares the most recent quarter of the country’s economic output to the previous quarter.

Detailed explanation-3: -While there are a number of different ways to measure economic growth, the best-known and most frequently tracked and reported measure is gross domestic product (GDP).

Detailed explanation-4: -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).