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What is GDP Explain with example

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What is GDP Explain with example

Posted by Naman Pandey 5 years, 7 months ago

CBSE > Class 10 > Social Science

4 answers

Pragyan Pandey 5 years, 7 months ago

GDP or gross domestic product is the total production of a country throughout the year. It does include the international trade that is import and export and also domestic product. It is only the sum total of it.. Hope it will help you..

Shreya ✍️ 5 years, 7 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. 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. Only the final products are reaching the actual consumer. The value of the intermediate products is already counted in the final products and if this is again counted, it will lead to double counting, causing an error in the estimation of GDP.

Shreya ✍️ 5 years, 7 months ago

Domestic*

Sarvan B 5 years, 7 months ago

Gross demostic product

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This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html

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