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:
“Society in every state is a blessing, but Government, even in its best state, is but a necessary evil; in its worst state, an intolerable one.”
—Thomas Paine (1737–1809)
“Man makes very much such a nest for his domestic animals, of withered grass and fodder, as the squirrels and many other wild creatures do for themselves.”
—Henry David Thoreau (1817–1862)
“For man is not the creature and product of Mechanism; but, in a far truer sense, its creator and producer.”
—Thomas Carlyle (1795–1881)