Question

a)Expand GDP
b)What is GDP
c) Who takes the process of estimation of GDP​

Answer 1

Answer:a- Gross domestic product

b-It is the sum of the primary,secondary and teritiary product of the country calculated in the end of year.

Explanation:

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Answer 2

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GDP stands for Gross Domestic Product.

It is the sum total of all final goods and services produced in a country during a particular year. It shows how big the economy is.

It is the sum of production in all sectors.in india this mammoth task is undertaken by central govt. ministry.

It collects information with the help of various govt. departments of all states and union territories.

GDP = C + I + G + (X – M)

where

• C = private consumption
• I = gross investment
• G = government investment + government spending
• X = exports
• M = imports