what is meant by the gross domestic product (GDP) of country?
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The sum of value of all final goods and services produced in all the three sectors in a particular year is called GDP of a country
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Gross Domestic Product (GDP) of a country is the value of all the final goods and services produced in each sector within a country during a particular year. This indicates how big the country’s economy is. GDP is measured by the Central Government Ministry. This Ministry, with the help of all the Indian States and Union Territories, collects information relating to total volume of goods and services and their prices and then makes an estimate of the GDP.
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