The value of final goods and
services produced in each sector
during a particular year provides
the total production of the sector
for that year. And the sum of
production in the three sectors gives
what is called the Gross Domestic
Product (GDP) of a country. It is the
value of all final goods and services
produced within a country during a
particular year. GDP shows how big
the economy is.
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Explanation:
Definition: GDP is the final value of the goods and services produced within the geographic boundaries of a country during a specified period of time, normally a year
Answered by
2
Answer:
Definition: GDP is the final value of the goods and services produced within the geographic boundaries of a country during a specified period of time, normally a year. GDP growth rate is an important indicator of the economic performance of a country.
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