Question
With reference to the Gross Domestic Product (GDP),
select the correct statement from the option given below:Solution
The term ‘gross’, means the same thing in Economics and Commerce as ‘total’ means in Mathematics. The term ‘domestic’ means all economic activities done within the boundary of a nation/ country and by its own capital; The term ‘product’ is used to define ‘goods and services’ together; and ‘final’ means the stage of a product after which there is no known chance of value addition in it.
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