Examlex
Economics is the study of
Goods and Services
The outputs produced by the economy, where goods are tangible objects and services are intangible offerings that satisfy consumer needs or wants.
Real GDP
The measure of a country's economic output adjusted for price changes (inflation or deflation), reflecting the true value of goods and services produced over a specific period.
GDP
Gross Domestic Product, the total monetary value of all goods and services produced within a country's borders in a specific time period, used as a broad measure of economic activity.
Per Capita GDP
The gross domestic product of a country divided by its population, giving an average economic output per person.
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