Question

Explain normal profit and gross domestic product??

Answer 1

The total value of goods and services produced by a country in an accounting year is called GDP.

Normal profit is an economic condition that occurs when the difference between a firm

Answer 2

HEY BUDDY., HERE IS YOUR ANSWER

NORMAL PROFIT⬇⬇⬇⬇

normal profit is an economic condition that occurs when the difference between a firm's total revenue and total cost is equal to zero. Simply put, normal profit is the minimum level of profit needed for a company to remain competitive in the market.

GROSS PRODUCT⬇⬇⬇⬇⬇

Gross domestic product is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually.

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