What is gross domestic product at …

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What is gross domestic product at market price

Posted by Sameep Rj Sameep Rj 4 years ago

CBSE > Class 12 > Economics

2 answers

Khushi Varshney 4 years ago

GDPmp refers to the market value of the goods and services produced within the domestic territory of a country during an accounting year.

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Yogita Ingle 4 years ago

Gross domestic product (GDP) is a monetary measure of the market value of all final goods and services manufactured in a time frame, often yearly or quarterly. Nominal GDP evaluates are commonly utilized to decide the economic performance of a whole country or region and to make international comparisons.

GDP (nominal) per capita does not, however, contemplate differences in the cost of living and inflation rates of the nations; hence using a basis of GDP per capita at purchasing power parity (PPP) is possibly more functional when contrasting differences in living standards between countries.

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