Question

What is GDP. Explain it​

Answer 1

Answer:

the GDP is the total of all value added created in an economy

Answer 2

Answer:

What is GDP ?

-The GDP is the total of all value added created in an economy.The value added means the value of goods and services that have been produced minus the value of the goods and services needed to produce them, the so called intermediate consumption.

-G.D.P. is the sum of the money value of final goods and services produced in each sector during a particular year within domestic territory of a country. Only final goods and services are counted in G.D.P.

Types of GDP.

GDP IS OF 4 TYPES :-

• Real GDP
• Nominal GDP
• Actual GDP
• Potential GDP

NOTE :- I have provided 2 definition of GDP.

U can prefer any...