Question

explain GROSS DOMESTIC PRODUCT (GDP) .

Answer 1

Sum total of all the final values of goods produced in all the 3 sectors of Indian Economy.

Answer 2

Answer:

What do you mean by Gross Domestic Product (GDP)? How it is

calculated?

Ans. Gross Domestic Product (GDP)

1. it refers to the market value of all the final goods and services

produced within a country during a particular year.

2. The value of final good is only used to calculate GDGDP.

3. In India it is measuring by the central government ministry.

4. The sum of production in the three sectors gives us the GDP(

Primary+ secondary + tertiary).

5. The money value of the goods and services should be added

rather than adding up the actual numbers.