Economics
Correct and arrange the important aspects for calculating GDP from this Jumble.
To count goods and services we add the numbers that are produced. We count all those that were produced in the last five years. Since we shouldn’t leave out anything we add up all these goods and services.
Related Questions
Students in a school are often classified into primary and secondary or junior and senior. What is the criterion that is used? Do you think this is a useful classification? Discuss.
What does the history of developed countries indicate about the shifts that have taken place between sectors?
Discuss with your teacher how you could calculate the total value of a good or service by using the method of value added at each stage.
Answer the following questions by looking at the graph:
- Which was the largest producing sector in 1973-74?
- Which is the largest producing sector in 2013-14?
- Can you say which sector has grown the most over forty years?
- What was the GDP of India in 2013-14?