GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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GDP is the sum total of the value of ____ produced during a particular year.
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all goods and services
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all final goods and services
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all intermediate goods and services
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all intermediate and final goods and services
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Explanation:
Detailed explanation-1: -GDP is the total money value of all final goods and services produced in a country in a year.
Detailed explanation-2: -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).
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.
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