Gross Domestic Product Law & Legal Definition
The gross domestic product (GDP) is the most comprehensive single measure of aggregate economic output. It represents the market value of the total output of the goods and services produced by a nation's economy. Unlike the gross national product (GNP) calculation, it does not consider imports or exports in the calculation.
GDP may be calculated in three ways:
- by adding up the value of all goods and services produced,
- by adding up the expenditure on goods and services at the time of sale, or
- by adding up producers’ incomes from the sale of goods or services. GDP measures a country’s economic activity regardless of who owns the productive assets in that country.
Legal Definitions
Search Definitions
Get a Term Defined
- Request a legal definition! Submit a term you need defined.
- » Request Legal Definition
Submit a Definition
- Submit a Definition Help us build our database. Free listings for attorneys.
- » Submit a Definition
Help Build USLegal
- Join our Team and help build USLegal. Many opportunities for participation so Join our Network.
Build USLegal
Read a Law Digest
- Need to read the law or find an answer to a legal question? Visit our Law Digest for the largest selection of law digests and answers available.
Go to Law Digest
Form Packages
- Select from our most popular legal form packages.
- » Bankruptcy
- » Contract for Deed
- » Divorce
- » Employment Packages
- » Home Sales
- » Incorporation
- » LLC Formation
- » Landlord Tenant
- » Mutual Wills
- » Name Change
- » Personal Planning
- » Partnerships
- » View All Packages
Legal Life
- Organize your legal life today! View our free online guide to creating a Life Documents File and related products.
- » Life Documents File
- » Personal Planning Package
- » Life Documents Packages
- » New Parents
- » Newlyweds
- » Baby Boomers
- » Military
- » Other
Form Drafting
- Can′t find the form you need, or need a form we offer revised for your situation? Submit your request and our attorneys will review the request and let you know if the form can be provided.
Submit a drafting request...
