GDP of France Gross Domestic Products or GDP is market value of all goods and services produced within a country in a given time period. This definition has four parts Value Finnal goods and services Produced within a country In a given time period
GDP answerds this question by valuing items at their market value , the prices at which items are tarded in market. Tocalculate GDP,we value the final goods and services produced.Only hoods and services that are produced within a country s GDP. GDP measures the value of production in a given time priode normally either a quarter of a year called the quarterly GDP data-or a yearcalled the annual GDP data. GDP and Cicular Flow of Expenditure and Income
Niminal GDP and Real GDP Real GDP is the value of final goods and services produced in a given year when valued at the prices of a refrence base year . Nomina GDP is the value of final goods and services produced in a given year valued at the prices of that year. Limitations of Real GDP Raeal GDP measures the value of goods and services that are bought in market