Teaching TGTET Paper 1 & 2 Mock Test Series 2024-25 General Knowledge Economy National Income Accounting
Gross Domestic Product (GDP) is often calculated based on the “value-added method". What do you understand by the term “value added”?
1
Difference in the costs of intermediate inputs and gross output
2
Difference in market price and subsidized price
3
Difference in export price and import price
4
Difference between earnings and taxes on the product