ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Gross Domestic Product (GDP)
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Capital Goods
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Human Capital
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Embrago
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Detailed explanation-1: -Gross domestic product (GDP) is the standard measure of the value added created through the production of goods and services in a country during a certain period. As such, it also measures the income earned from that production, or the total amount spent on final goods and services (less imports).
Detailed explanation-2: -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-3: -GDP Formula GDP = private consumption + gross private investment + government investment + government spending + (exports – imports).
Detailed explanation-4: -GDP is the total money value of all final goods and services produced in a country in a year.
Detailed explanation-5: -In economic terms, the total market value of all final goods and services produced in a country in a given year is known as Gross Domestic Product (GDP).