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What is GDP & how does it affect economic growth?

buying, selling, or exchanging of goods and services. Gross domestic product (GDP), the total value of all goods and services produced in a country in a given period, is one method to determine a country’s economic growth, and therefore success—but it is not necessarily always the most accurate.

What is economic geography?

Economic geography is the subfield of human geography that studies economic activity and factors affecting it. It can also be considered a subfield or method in economics. There are four branches of economic geography.

What is the difference between GDP and GNP?

At that time gross national product (GNP) was the preferred estimate, which differed from GDP in that it measured production by a country's citizens at home and abroad rather than its 'resident institutional units' (see OECD definition above). The switch from GNP to GDP in the United States occurred in 1991.

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