GDP is the whole economic value of the services and final goods formed within the environmental limits
economics
Description
GDP is the whole economic value of the services and final goods formed within the environmental limits of a country in a given age of time.
Value-added approach in our small economy, mix fruit juice is retailed for or has a market value of, $10. If your perception tells you $2, then your perception is correct. Value added is the dollar value subsidized to a final good at every stage of production. That is, it is the variance between the dollar value of intermediate goods the producer buys and the dollar value of the output the producer sells.
