What is GDP – Gross Domestic Product? 

Alright, let’s say your village is like a small country. Everyone in the village does different things to earn money—some people grow crops, others keep animals, some make clothes, and a few runs small shops.

GDP (Gross Domestic Product) is like adding up all the money that everyone in the village earns in a year by selling their crops, animals, clothes, and other things they make or do. It’s a way to measure how much wealth or value the entire village creates in a year.

So, if you add up all the money from the crops, the milk, the clothes, and everything else produced in your village, that total amount is the GDP of your village. The bigger the GDP, the more productive and wealthy your village is considered to be.