BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Gross Domestic Product
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Net Domestic Product
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Net National Product at Factor Cost
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Net National Product at Market Price
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Detailed explanation-1: -GDP measures the monetary value of final goods and services-that is, those that are bought by the final user-produced in a country in a given period of time (say a quarter or a year). It counts all of the output generated within the borders of a country.
Detailed explanation-2: -GDP is the total money value of all final goods and services produced in a country in a year.
Detailed explanation-3: -Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of a given country’s economic health.
Detailed explanation-4: -The most common measure of the economy is called gross domestic product (or GDP). GDP measures the total market value of all final goods and services produced in an economy in a given year.
Detailed explanation-5: -Definition: Gross National Product (GNP) is Gross Domestic Product (GDP) plus net factor income from abroad. Description: GNP measures the monetary value of all the finished goods and services produced by the country’s factors of production irrespective of their location.