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What is G.D.P why are final goods counted |
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Answer» Gross domestic product(GDP) is the sum of the value of all the final goods and services produce in a particular year. While calculating GDP only final goods are counted because it also have the value of intermediate goods. So to get rid from double counting counting, only final goods are counted. I hope it help you! GDP (Gross domestic product)it indicate the total production of goods within a year in a country. GDP is gross domestic product... Final values are only counted to avoid double counting of values of raw materials as value of raw materials is added in value of final goods Total of all products produced during a year is called gdp Gross domestic products |
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