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what is GDP at market price? how do you get GNP at market price from GDP at market price. Explain in brief?

Posted by Rajiv Kumar 3 years, 4 months ago

CBSE > Class 12 > Economics

2 answers

Preeti Dabral 3 years, 4 months ago

It refers to market value of final goods and services produced within the domestic territory of the country within one year inclusive of depreciation. GNP is an economic concept because it includes productive efforts of only residents of a country within and outside the country GDP is based on domestic territory but GNP is based on normal residents.

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Bharti Jangra 3 years, 5 months ago

Just add net factor income from abroad to GDP at market price

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CBSE > Class 12 > Economics