Question

Assume that a farmer sells wheat to Miller for ₹15.The Miller turn wheat into flour, which she sells to a baker for ₹35.The baker turns the flour into bread and sells to consumer for ₹60.Calculate the gdp in the case? which method do you use to calculate gdp in this case? what precautions should be taken in that method? ​

Answer 1

Explanation:

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Answer 2

Explanation:

Given Assume that a farmer sells wheat to Miller for ₹15.The Miller turn wheat into flour, which she sells to a baker for ₹35.The baker turns the flour into bread and sells to consumer for ₹60.Calculate the gdp in the case? which method do you use to calculate gdp in this case?

• Now gdp (gross domestic product) in this case is equal to $ 60.
• So gdp is the market value for all ending goods and services that are made within a country in a given period of time.
• The wheat and flour used is called as an intermediate product and the bread is the ending product when the baker makes bread. So the gdp comprises only the ending or the final product. This is done since the price of the intermediate product is already in the cost of the final products.
• Therefore the sale of $15 wheat and the sale of $35 flour do not contribute directly to gdp and hence only the $ 60 bread contributes to gdp

Reference link will be

https://brainly.in/question/20195020