Question

What is GDP ? Explain with example the method of calculating GDP . Who takes up the mammoth task of measuring GDP in India ?

Answer 1

GDP represents the monetary value of all goods and services produced within a nation's geographic borders over a specified period of time.

In addition, some of the goods and services that an economy makes are exported overseas. And some of the products and services that are consumed within the country are imports from overseas. The GDP calculation also accounts for spending on exports and imports. Thus, a country’s GDP is a measure of consumer spending (C) plus business investment (I) and government spending (G) as well as its net exports, which is exports minus imports (X-M).
so,
the GDP=(I+G+C)+(X-M)

here is your answer!! voila!

Answer 2

Secondary SchoolSocial sciences 8+4 pts

What is GDP ? Explain with example the method of calculating GDP . Who takes up the mammoth task of measuring GDP in India ?

Report by Rahssherlinybu 21.07.2016

Answers

2750atharv

2750atharv · Helping Hand

Know the answer? Add it here!

sabyasachi

Sabyasachi Ambitious

GDP represents the monetary value of all goods and services produced within a nation's geographic borders over a specified period of time.

In addition, some of the goods and services that an economy makes are exported overseas. And some of the products and services that are consumed within the country are imports from overseas. The GDP calculation also accounts for spending on exports and imports. Thus, a country’s GDP is a measure of consumer spending (C) plus business investment (I) and government spending (G) as well as its net exports, which is exports minus imports (X-M).

so,

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

here is your answer!