What is GDP and NDP? Explain with example for India.
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GDP - gross domestic product is the total value of all goods and services of a country.
GDP = Consumption + Government Expenditures + Investment + Exports - Imports
NDP - national domestic product is the value of gdp - depriciation (damaged goods)
GDP = Consumption + Government Expenditures + Investment + Exports - Imports
NDP - national domestic product is the value of gdp - depriciation (damaged goods)
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The total market value of all final goods and services is GDP.
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Which equals the gross domestic product (GDP) is NDP.
&
Which equals the gross domestic product (GDP) is NDP.
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