GDP measures the monetary value of final goods and servicesâthat is, those that are bought by the final userâproduced in a country in a given period of time (say a quarter or a year). It counts all of the output generated within the borders of a country.
Product audit â An examination of a particular product or service (hardware, processed material, software) to evaluate whether it conforms to requirements (that is, specifications, performance standards, and customer requirements). Process audit â A verification that processes are working within established limits.
The concepts of quality assurance and audits are two distinct ideas that serve the same purpose: improving quality, consistency and reliability in operations. Quality assurance is more of an abstract concept, which can be manifested through a number of operational policies and systems. Audits are more specific.