Question

how do we count various goods and services and know the production in each sectors?​

Answer 1

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

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