Question

what are the finals goods and intermediate goods?how do they help in calculating (GDP) Gross domestic product?​

Answer 1

Explanation:

Final goods are the goods meant for final consumption. Intermediate goods are unfinished goods that are not used for final consumption. Only final goods are taken while calculating the Gross Domestic Product.

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Answer 2

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.