Question

Give a brief about GDP
( please provide 3 points )

Answer 1

Answer:

GDP long form is gross domestic product... The value of a country's overall output of goods and services (typically during one fiscal year) at market prices, excluding net income from abroad. ... The most closely watched data is the period to period change in output and consumption, in real (inflation adjusted) terms.

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Answer 2

Answer:

Explanation:

GDP stands for gross domestic product .

The value of final goods and service in each sector during a particular year , provides the total production of the sector that year .

The sum of production in the three sectors gices the Gross Domestic Product.

It is the value of all final goods and services produced within a country during a particular year.

GDP shows how big the economy is.

Example -> In India, the mammoth task of measuring GDP is undertaken by a central government ministry.