Question

what do you mean by gross domestic product? what precautions should we take to calculate GDP​

Answer 1

Answer:

Precaution in Calculating GDP: There is a precaution one has to take. Not every good (or service) that is produced and sold needs to be counted. It only includes the final goods and services. Final goods include the values of all raw material and intermediate goods.

Answer 2

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Precaution in Calculating GDP: There is a precaution one has to take. Not every good (or service) that is produced and sold needs to be counted. It only includes the final goods and services. Final goods include the values of all raw material and intermediate goods.