State Domestic Product, or SDP, is the total value of goods and services produced during any financial year within the geographical boundaries of a state. Also called the state income, SDP is always calculated or estimated in monetary terms, and is instrumental in the evaluation of per capita income. State here refers to a country subdivision, as in the states of the United States and the states of India. While GDP gives a good estimate of the entire nation's output, SDP provides more detailed economic details about subnational territories.
Famous quotes containing the words state, domestic and/or product:
“The law of nature is alternation for evermore. Each electrical state superinduces the opposite. The soul environs itself with friends, that it may enter into a grander self-acquaintance or solitude; and it goes alone for a season, that it may exalt its conversation or society.”
—Ralph Waldo Emerson (1803–1882)
“It’s a naïve domestic Burgundy without any breeding, but I think you’ll be amused by its presumption.”
—James Thurber (1894–1961)
“[As teenager], the trauma of near-misses and almost- consequences usually brings us to our senses. We finally come down someplace between our parents’ safety advice, which underestimates our ability, and our own unreasonable disregard for safety, which is our childlike wish for invulnerability. Our definition of acceptable risk becomes a product of our own experience.”
—Roger Gould (20th century)