Topics: CH-1: Introduction, NCERT Books, Statistics for Economics

GDP Full Form

Question

GDP stands for:

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Question (English)

GDP stands for:

  1. Gross Direct Product
  2. Gross Domestic Product ✓ Correct
  3. General Domestic Price
  4. Gross Distributed Profit
Explanation:
Correct Answer Explanation

GDP stands for Gross Domestic Product. It refers to the national income or total income arising from what has been produced in the country.

Key Points:
  • GDP represents the total income generated from production in a country.
  • It is distributed through wages, salaries, profits, and interest.
  • GDP is a key indicator in the study of Distribution.
Why Other Options Are Wrong
  • A, C, D: Incorrect expansions. The correct form is Gross Domestic Product.

📚 About this Topic — CH-1: Introduction

This multiple choice question is from CH-1: Introduction, NCERT Books, Statistics for Economics. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-1: Introduction to strengthen your preparation.

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