How to calculate problem of double …
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Meghna Thapar 5 years, 2 months ago
Double counting can be avoided. In order. to avoid double or multiple counting, only final goods and services should be included in GDP. However, this should not be regarded as meaning that the farmer or the miller or the baker has not contributes anything to GDP. The value added is found out by subtracting the value of inputs (intermediate goods which enter into final goods) from the value of output (final goods) of a firm. Clearly, value added by all the four firms is Rs 3,500 comprising Rs 1,000 by A + Rs 500 by B + Rs 700 by C + Rs 1,300 by D.
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