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It represents the total value of all goods and services produced within a country's borders during a specific time period, typically a year. The Wikipedia page on Gross Domestic Product provides an in-depth overview of this economic indicator, explaining its calculation methods, historical significance, and its application in measuring the economic growth of nations. It covers various aspects related to GDP, including its components such as consumption, investment, government spending, and net exports, as well as different approaches to calculating GDP, such as the income and expenditure approaches. The page also explores the limitations and criticisms of GDP as a measure of well-being, highlighting factors that are not reflected in GDP figures, such as income inequality, environmental sustainability, and quality of life. It discusses alternative measures like the Gross National Happiness index and the Human Development Index, which attempt to capture these broader aspects of societal progress. Furthermore, the page delves into the significance of GDP in national economic policy-making, including its role in assessing economic performance, planning for sustainable growth, and providing the basis for economic forecasts and projections. It also addresses the use of GDP in international comparisons, as a means to compare economic size and standard of living between different countries. Overall, the Wikipedia page on Gross Domestic Product serves as a comprehensive resource for understanding the concept, measurement, and implications of this fundamental economic indicator. It provides readers with a solid foundation to grasp the significance of GDP in evaluating and analyzing the economic performance of nations.