Gross domestic product
Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually 
GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore using a basis of GDP per capita at purchasing power parity (PPP) is arguably more useful when comparing differences in living standards between nations.
Economy
Other sectors of the developed community include :There are a number of concepts associated with the economy, such as these:The GDP (gross domestic product) of a country is a measure of the size of its economy. The most conventional economic analysis of a country relies heavily on economic indicators like the GDP and GDP per capita. While often useful, GDP only includes economic activity for which money is exchanged.