how do we count the various goods and services and know the total production in each sector?
Answers
Answered by
14
BY Calculation the GDP.
full form of GDP is Gross Domestic Products.
through GDP we count all the products produce within a country in a particular year.
priyanshu9171:
thanks
Answered by
17
Hey buddy here's your answer :
We calculate GDP to count value of goods and services. It is the market value of final goods and services produced in a country in a year.
✒The final value of goods and services produced in a sector is calculated.
✒Only the final value of a product or service is taken into, account to avoid double counting. For example, suppose a farmer sells wheat to a flour mill for ? 8. The mill grinds it and sells it to a baker for ? 10 and then baker after converting it into a
bread sells to a consumer for ? 20. Here the final product is bread so ? 20 should be added not ? 8 + ? 10 + ? 20 = ? 38.
✒Similarly, the final value of products or services produced is calculated.
✒The sum total of all the final goods and services produced in all the sectors provide GDR
HOPE IT HELPS PLEASE MARK AS THE BRAINLIEST ;)
We calculate GDP to count value of goods and services. It is the market value of final goods and services produced in a country in a year.
✒The final value of goods and services produced in a sector is calculated.
✒Only the final value of a product or service is taken into, account to avoid double counting. For example, suppose a farmer sells wheat to a flour mill for ? 8. The mill grinds it and sells it to a baker for ? 10 and then baker after converting it into a
bread sells to a consumer for ? 20. Here the final product is bread so ? 20 should be added not ? 8 + ? 10 + ? 20 = ? 38.
✒Similarly, the final value of products or services produced is calculated.
✒The sum total of all the final goods and services produced in all the sectors provide GDR
HOPE IT HELPS PLEASE MARK AS THE BRAINLIEST ;)
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