All About GDP | UPSC Prelims Gear Up Programme | UPSC Prelims Test Series | Prelims PYQ

In the Prelims Gear Up Series, we have been coming up with a series of videos, which will cover all the important previous year UPSC Prelims Questions and will help all the aspirants in revision and consolidation of the same.

Today's Topic: GDP (Gross Domestic Product)

The traditional way of measuring the value added produced in a nation over a given time period through the creation of goods and services is called the gross domestic product, or GDP. As a result, it also accounts for the revenue generated by such production, or the total amount spent (minus imports) on finished goods and services. Although GDP is the most significant indication of economic activity, it is not a good indicator of people's material well-being; other statistics may be more appropriate in this regard.

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