how do we count and calculate the value of the final goods and services in the country explain wirh examples
can any one pls help me fast
Attachments:
Answers
Answered by
20
The value of all final goods and services produced in a country during a particular year is known as GDP (Grosa Domestic product).
The task of measuring GDP is undertaken by central government ministry.
While measuring GDP only the value of final goods and services are included.
For example :- A farmer sells wheat to a flour mill for Rs 8 per kg.
The mill grinds the wheat and sells the flour to a biscuit at Rs 10 per kg.
The biscuit company uses the flour and thins such as sugar and oil to make four packets of biscuit. Itself biscuit in the market to the consumers for rate 60.
Biscuits are final goods so value of biscuits are only included.
This is because the value of final good already includes the value of all the intermediate goods and are used in making the final good.
If you satisfied mark it brainliest.
The task of measuring GDP is undertaken by central government ministry.
While measuring GDP only the value of final goods and services are included.
For example :- A farmer sells wheat to a flour mill for Rs 8 per kg.
The mill grinds the wheat and sells the flour to a biscuit at Rs 10 per kg.
The biscuit company uses the flour and thins such as sugar and oil to make four packets of biscuit. Itself biscuit in the market to the consumers for rate 60.
Biscuits are final goods so value of biscuits are only included.
This is because the value of final good already includes the value of all the intermediate goods and are used in making the final good.
If you satisfied mark it brainliest.
nithin181:
thank u man
No need to thank me
y...
Please mark it brainliest.
Answered by
5
Final goods and services is Gross Domestic Product (GDP) of a country. GDP is a leading indicator of development and progress of a country. It is the net (not sure about net) worth of goods and services produced in a country in USD. The countries with highest GDP are:—
1. USA, not difficult to guess
2. China, same as above
3. Japan, suprised me
4. Germany, surprised me again
5. UK, did not surprise me
6. India, my country
Other such countries are Italy, Brazil, Canada, Australia, Canada, Turkey, Switzerland, etc. Most of these countries are in Europe, Americas, Australia, and South East and East Asia. There is a direct link between GDP and HDI according to my observation. USA, Japan, Canada, Australia, all these have a high HDI, with the exception of China and India of course.
A country cannot consume all the goods it produces since they may be beyond limits or may not be required by it. These are exported. Exports generally help in developing the nation faster.
1. USA, not difficult to guess
2. China, same as above
3. Japan, suprised me
4. Germany, surprised me again
5. UK, did not surprise me
6. India, my country
Other such countries are Italy, Brazil, Canada, Australia, Canada, Turkey, Switzerland, etc. Most of these countries are in Europe, Americas, Australia, and South East and East Asia. There is a direct link between GDP and HDI according to my observation. USA, Japan, Canada, Australia, all these have a high HDI, with the exception of China and India of course.
A country cannot consume all the goods it produces since they may be beyond limits or may not be required by it. These are exported. Exports generally help in developing the nation faster.
Similar questions