Practicing Success
Practicing Success
CUET Preparation Today
What do you understand by the term "GDP at Market Price"? |
Market value of all final goods and services produced within a domestic territory Market value of all final goods and services produced within a domestic territory and abroad Market value of all intermediate goods and services produced in abroad Market value of all intermediate goods and services produced in domestic territory and abroad |
Market value of all final goods and services produced within a domestic territory |
Gross Domestic Product at Market Prices (GDPMP) = GDP is the market value of all final goods and services produced within a domestic territory of a country measured in a year. All production done by the national residents or the non-residents in a country gets included, regardless of whether that production is owned by a local company or a foreign entity. Everything is valued at market prices. |
