1.

State with valid reason, which of the following statement is true or false: a. Gross Value Added at market price and Gross Domestic Product at market price are one and the same thing. b. Intermediate goods are always durable in nature.

Answer»

a. The given statement is false as Gross Domestic Product is the result of sum of Gross Value Added by all the producing units/firms in an economy, during an accounting year. 

b. The given statement is false as intermediate goods are generally non-durable in nature. They are the goods used as raw material and they lose their identity in the production process for the creation of a new commodity, during an accounting year.



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