1.

What is Gross Domestic Product (GDP) ? Write the Formula to Calculate Gross Domestic Product at Market Price.

Answer»

Gross Domestic Product at Market Price is the Sum of Market Value of all Final Goods and Services produced inside the Domestic Territory of a Country by all the Producers, during an Accounting Year.

GDPMP = C + I + G + (X – M)

Here GDPMP = Gross Domestic Product at Market Price 

C = Consumption Expenditure

I = Investment Expenditure

G = Government Expenditure

(X – M) = Net Exports



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