Which of the following elements are a part of the GDP definition?

Factor cost

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Market price

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Final goods

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Final services

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Solution

The correct options are
B
Market price

C
Final goods

D
Final services

Factor cost is not a part of GDP. GDP is the total market value of all final goods and services produced within the given country in a given period of time.

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Similar questions

Q. Final goods and services and are the elements which are a part of the GDP definition.

Q. GDP is the total market value of final goods and services produced within the country's border in a specific time period.

Market price of the final goods and services (including depreciation) produced within the domestic territory of a country during an accounting year, is called :

Market price of the final goods and services including depreciation produced within the domestic territory of a country during an accounting year 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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Which of the following elements are a part of the GDP definition?

The correct options are B Market price C Final goods D Final services Factor cost is not a part of GDP. GDP is the total market value of all final goods and services produced within the given country in a given period of time.

The correct options are
B
Market price

C
Final goods

D
Final services

Factor cost is not a part of GDP. GDP is the total market value of all final goods and services produced within the given country in a given period of time.