meaning of gross domestic product (GDP) ?
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GDP is the value of all final goods and services produced within a country during a particular year. It is the sum of the production of all the three sectors.
Hope it helps .
Hope it helps .
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Answer:
What do you mean by Gross Domestic Product (GDP)? How it is
calculated?
Ans. Gross Domestic Product (GDP)
1. it refers to the market value of all the final goods and services
produced within a country during a particular year.
2. The value of final good is only used to calculate GDGDP.
3. In India it is measuring by the central government ministry.
4. The sum of production in the three sectors gives us the GDP(
Primary+ secondary + tertiary).
5. The money value of the goods and services should be added
rather than adding up the actual numbers.
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