Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period, usually one year, regardless of who owns the factors of production. It is a comprehensive measure of a country's economic activity and is widely used as an indicator of its economic health and growth. GDP includes all private and public consumption, government outlays, investments, and exports minus imports that occur within the defined territory. It provides a snapshot of the total economic output of a nation and is often used to compare the size and performance of different economies. While GDP is a key economic indicator, it has limitations as a measure of overall societal well-being, as it does not account for factors such as income distribution, environmental quality, or non-market activities.