Question

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

• A. Total production of the sector for that year
• B. Gross production of the sector for that year
• C. Average production of the sector for that year
• D. Net production of the sector for that year

Answer 1

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.