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Which of the following is a market service included in GDP?

Answer and explanation

Correct answer: Paid service of a private hospital

GDP records the market value of currently produced final goods and services exchanged for payment. A private hospital provides a medical service for which a fee is charged, so its value is recorded in national output; therefore option B is correct. Unpaid household care, voluntary help, and cleaning one’s own home usually have no market transaction and are not included.

Related tags

Market ServiceGdp InclusionPaid Hospital ServiceGdp And WelfareNational Income And Related AggregatesEconomicsClass 11 Mcq

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