Asked by Natalee Hines on Apr 24, 2024
Verified
Which term defines the market value of goods and services produced in a country for use within a year (expressed in dollars) ?
A) gross domestic product
B) gross national product
C) per capita GNP
D) per capita GDP
Gross Domestic Product
The total value of all goods and services produced within a country over a specific time period, commonly used to measure economic performance.
Market Value
The current price at which an asset or service can be bought or sold in the marketplace.
Goods And Services
Physical items produced and actions performed to fulfill the needs and wants of consumers.
- Understand the economic indicators and their implications on development and sustainability.
Verified Answer
HT
Huy?n TrangApr 30, 2024
Final Answer :
A
Explanation :
Gross domestic product (GDP) is the market value of all final goods and services produced within a country in a given period of time (usually a year) and is expressed in dollars. It does not include income earned by citizens or companies outside of the country.
Learning Objectives
- Understand the economic indicators and their implications on development and sustainability.