gross domestic product (GDP)

The total monetary value of all finished goods and services produced within a country's borders in a specific time period.

speakingWork and economy

Utilisation IELTS

A fundamental economic term for discussing national economic performance and comparing economies.

Gross domestic product is often used as an indicator of a country's economic health.
A steady increase in gross domestic product suggests a growing economy.
Critics argue that gross domestic product does not measure well-being or environmental sustainability.

GDP growth: The government aims to achieve 4% GDP growth this year.
GDP per capita: GDP per capita is a better measure of average living standards than total GDP.
high GDP: Countries with high GDP often invest more in infrastructure.
GDP figures: The latest GDP figures show a slight contraction in the economy.

national output: A more formal alternative, focusing on production.
economic output: General term used in both technical and everyday contexts.
total value of goods and services: Descriptive paraphrase useful for explaining the concept.

GDP is high so people are happy. to A high GDP does not necessarily mean that people are happy.. Avoid overgeneralization; GDP is not a direct measure of happiness.
The gross domestic product increase every year. to Gross domestic product increases every year.. Subject-verb agreement: 'product' is singular, so 'increases' is needed.
GDP of country is growing. to The GDP of the country is growing.. Include articles 'the' before 'GDP' and 'country'.