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:
“I shall state silences more competently than ever a better man spangled the butterflies of vertigo.”
—Samuel Beckett (1906–1989)
“I am not naturally ... “A bag of wind”; yet ... I mean deliberately and decidedly “to cut” in future all my old ideas on this head. I don’t think modesty “pays.” It is a good quality in a family, it is a domestic virtue, it makes a home happy after you have got a home, but it is not potent in getting homes. It is not a money-maker, neither is it lucky in gaining a reputation. I am of the impression that gaseous bodies do better.”
—Rutherford Birchard Hayes (1822–1893)
“The product of mental labor—science—always stands far below its value, because the labor-time necessary to reproduce it has no relation at all to the labor-time required for its original production.”
—Karl Marx (1818–1883)