What do we call the sum of value of all final goods and services produced in each sector during a particular year?

Total production of the sector for that year

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Gross production of the sector for that year

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Average production of the sector for that year

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Net production of the sector for that year

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Solution

The correct option is A Total production of the sector for that year
The value of all final goods and services produced in each sector gives us the total production of that sector. By adding the total product of all the three sectors (primary, secondary, and tertiary), we determine the GDP of the country during a particular year.

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The market value of all final goods and services produced in a year inside the boundary of a nation is called ______.

GDP is the total money value of all final goods and services produced in a country in a year.

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