What is the full form of GDPMP?
Answer and explanation
Correct answer: Gross Domestic Product at Market Price
GDPMP means Gross Domestic Product at Market Price. GDP refers to the value of final goods and services produced within the domestic territory, while MP means that the valuation is made at market prices paid by purchasers. Option B refers to GDP at factor cost, GNP refers to national rather than domestic production, and NDP is a net measure after depreciation.
Frequently asked questions
What is the correct answer to this question?
Gross Domestic Product at Market Price
Why is this the correct answer?
GDPMP means Gross Domestic Product at Market Price. GDP refers to the value of final goods and services produced within the domestic territory, while MP means that the valuation is made at market prices paid by purchasers. Option B refers to GDP at factor cost, GNP refers to national rather than domestic production, and NDP is a net measure after depreciation.
Which subject and chapter does this question cover?
This is a Class 12 Economics question. Chapter: National Income and Related Aggregates. Topic: Aggregates related to national income - GDP.
Student feedback
Was this question useful?
👍 0 Helpful 👎 0 Not helpful
Yes 0% No 0%
0 responsesStudent Reviews
No published reviews yet.
