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 greater speed and success that distinguish the planting of the human race in this country, over all other plantations in history, owe themselves mainly to the new subdivisions of the State into small corporations of land and power.”
—Ralph Waldo Emerson (1803–1882)
“If the minds of women were enlightened and improved, the domestic circle would be more frequently refreshed by intelligent conversation, a means of edification now deplorably neglected, for want of that cultivation which these intellectual advantages would confer.”
—Sarah M. Grimke (1792–1873)
“The writer’s language is to some degree the product of his own action; he is both the historian and the agent of his own language.”
—Paul De Man (1919–1983)