______ is the final value of the goods and services produced within the geographical boundaries of a country during a year.
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → Gross Domestic Product (GDP)
Gross Domestic Product is the market value of all final goods and services produced within the domestic territory (the geographical boundaries) of a country in a year, whoever produces them. ‘Domestic’ means the place of production counts, not the nationality of the producer.