What is GDP? Explain with examples the method of calculating Gross Domestic Product?
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Gross domestic product is a financial strength of the market value of all the concluding goods and services delivered in a period of time, often periodically.
The most popular approach to estimating GDP is the investment method:
GDP = consumption + investment (government spending) + exports-imports.
Another way of estimating GDP is to estimate the total revenue payable in the GDP income statements. This should contribute the same amount as the investment method.
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