Question

What is gdp explain with example the method of calculating gdp 0?

Answer 1

Answer:

GDP is gross domestic product.

example - clothing,food and health care.

GDP = C + I + G+ (X-M) where

C= household spending on goods and services

I= capital investment spending

G= government spending

X= exports of goods and services

M= imports of goods and services

Answer 2

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GDP stands for Gross Domestic Product.

It is the sum total of all final goods and services produced in a country during a particular year. It shows how big the economy is.

It is the sum of production in all sectors.in india this mammoth task is undertaken by central govt. ministry.

It collects information with the help of various govt. departments of all states and union territories.

GDP = C + I + G + (X – M)

where

• C = private consumption
• I = gross investment
• G = government investment + government spending
• X = exports
• M = imports