Asked by
Monserrat Pintado
on Oct 13, 2024Verified
The GDP is the value of all final goods and services produced
A) within the nations boundaries.
B) by domestically owned companies.
C) by citizens of the country.
D) by domestically controlled companies.
GDP
Gross Domestic Product is defined as the cumulative monetary or market value of all the finished products and services generated inside a country during a particular time frame.
Final Goods
Products that have completed the production process and are ready for sale to the consumer or end-user, excluding intermediate goods used in production.
- Understand the basic concepts of Gross Domestic Product (GDP) and its components.
Verified Answer
IH
Learning Objectives
- Understand the basic concepts of Gross Domestic Product (GDP) and its components.