ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
CULTURAL DIFFERENCES AND ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the total value of all goods produced during the year called?
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Disposable Income
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Exporting
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Importing
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Gross Domestic Product
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Explanation:
Detailed explanation-1: -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-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 is defined as the current value of all final goods and services produced in a nation in a year.
There is 1 question to complete.