Question
Download Solution PDFWhich among the following is included in the gross domestic product?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Sales of final goods.
Key Points
- Sales of final goods are included in the gross domestic product.
- GDP or Gross Domestic Product is the total value or market value of all the goods and services in a year in a country's economy. Intermediate goods are not included while calculating GDP.
- GDP:
- GDP's full form is Gross Domestic Product. It is evaluated regularly to account for changing production structure, relative prices, and better recording of economic activities.
- Gross Domestic Product (GDP) is the total money value of final goods and services produced in the economic territories of a country in a given year.
- Non-monetary goods and services (e.g. cooking by a housewife) are not included in GDP calculation.
Last updated on Jul 7, 2025
-> SSC MTS Notification 2025 has been released by the Staff Selection Commission (SSC) on the official website on 26th June, 2025.
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