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TeachMeFinance.com - explain Gross domestic product (GDP) Gross domestic product (GDP) The term 'Gross domestic product (GDP)' as it applies to the area of energy can be defined as ' The total value of goods and services produced by labor and property located in the United States. As long as the labor and property are located in the United States, the supplier (that is, the workers and, for property, the owners) may be either U.S. residents or residents of foreign countries'. Previous 5 Terms: gromatics Gross additions to construction work in progress for the month Gross company-operated production Gross crop value Gross Domestic Product Next 5 Terms: Gross domestic product (GDP) Gross domestic product (GDP) implicit price deflator Gross energy intensity Gross farm income Gross gas withdrawal About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.