Question

Explain gdp?what does it mean

Answer 1

gdp means gross domestic product.it mainly indicates the development rate of a country.we can get GDP by
= production in country + export of country - import of the country.

Answer 2

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GDP stands for Gross Domestic Product.

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

GDP = C + I + G + (X – M)

where

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