What do you mean by gross …
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Yogita Ingle 6 years, 8 months ago
Gross Domestic Product (GDP) is the total sum of the value of the final goods and services of the Primary, Secondary and Tertiary sectors of the economy of a country produced during a year.
The counting of the various goods and services for calculating GDP can he understood by the following example
Wheat and Hour are intermediate goods used for making final products like bread and biscuits. Intermediate products should not be counted in the figure of GDP. Biscuits and breads are the final products prepared using flour and other ingredients like sugar, salt, oil etc
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