Question : The Gross domestic product (GDP) estimation method measuring the aggregate value of goods and services produced by the firms is called _______.
Option 1: expenditure method
Option 2: consumption method
Option 3: income method
Option 4: product method
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Correct Answer: product method
Solution : The correct answer is the product method.
One method of calculating a nation's national income is the product or value-added method. The output or inventory method is another name for this system. It shows how each producing unit contributes to the production process. Value-added is the extra value that a company adds to a raw material through its production processes.
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