The expenditure method is a way of calculating the Gross Domestic Product (GDP) of a country by summing the expenditures made by consumers, investors, and the government within a specific period. This method provides a figure at market prices and stands in contrast to the output and income methods of GDP calculation.
Gross Domestic Product (GDP) represents the total monetary value of all goods and services produced within an economy over a specific period. It is a crucial indicator for assessing the economic performance of a country.
Learn about the Expenditure Method for determining Gross Domestic Product (GDP), including its components, calculation, and the formula used.
