GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Many a times we read a term in financial newspaper GDP. What is the full form of the same?
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Gross Domestic Product
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Global Domestic Ratio
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Gross Depository Revenue
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Global Depository Receipts
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Explanation:
Detailed explanation-1: -The value of goods and services produced within the geographical boundaries of a nation in a financial year is termed as GDP. The value of goods and services produced by the citizens of a nation irrespective of the geographical limits in a financial year is known as GNP.
Detailed explanation-2: -Gross domestic product (GDP) is the single standard indicator used across the globe to indicate the health of a nation’s economy: one single number that represents the monetary value of all the finished goods and services produced within a country’s borders in a specific period.
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