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State the law of supply and explain it.
GDP
Gross Domestic Product, the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.
GNP
GNP, or Gross National Product, represents the total dollar value of all goods and services produced over a specific time period by a nation's residents, regardless of the production location.
Population
The total number of people inhabiting a particular area, region, or country.
Output Per Capita
The measure of a total output of a country divided by the number of people in the population, indicating average productivity.
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