ECONOMICS STATISTICS

GDP: Gross domestic product (GDP) at market prices is a measure of the total value added by resident producers in the production of goods and services.  All taxes (less subsidies) on products, including on imports, are included.  “Gross” means “before deducting the consumption of fixed capital (depreciation)”.  GDP at constant prices (or “in real terms”) is an equivalent measure of the volume of production, in other words with inflation taken out. Read more....

Household: Is a person or a group of persons who sleep under the same roof and usually have common arrangements for the preparation and consumption of food. Read more...