Gross domestic product is a monetary measure of a country's output of all final commodities and services over a
certain time period (say a quarter or a year). All activity inside a nation's boundaries is included.
Products and services that are not intended for commercial sale are nonetheless included as part of GDP. These
nonmarket products and services include government-provided military and educational services. Gross national
product (GNP) is an alternative economic term that measures the total production of a country's citizens. As a
result, the production of a US plant owned by a German firm would be counted in both countries' GDPs.
In other words, GDP does not account for all forms of economic output. Activities that are difficult to quantify
and value effectively, such as unpaid labour (such as that conducted in the home or by volunteers) and black
market activities, are not included. So, if a baker makes a loaf of bread for a client, it counts as a contribution to
GDP, but if he makes the same loaf for his family, it doesn't.