Question

In an imaginary economy the monetary value of contributions of primary sector, public sector, secondary sector and service sector are Rs 100, Rs 25, Rs 28 and Rs 77 respectively. The gross domestic product of the economy is

Answer 1

Answer:

GDP = PRIMARY SECTOR(100) + PUBLIC SECTOR(25) + SECONDARY (28) + SERVICE SECTOR (77) = 230

Answer 2

Answer:

Gross domestic product of the economy is 230.

Explanation:

GDP = Primary sector (100) + Public sector (25) + Secondary sector (28) + Service sector (77) = 230

• The GDP is the measure of economic activity that is most frequently used.
• The term "Gross Domestic Product," or GDP, refers to the total monetary worth of all finished goods and services produced (and marketed) within a nation within a specific time period (typically 1 year).
• There are three methods for calculating GDP: utilising the production, expenditure, or income approach. Every procedure ought to provide the same outcome.