Question

Which method for counting gross domestic product focuses on the money paid for all the factors of production as well as profits earned by business owners?

Answer 1

The method of GDP calculation that looks at the profits earned by business owners and the money paid for factors of production is the Income approach.

How is the income method of GDP used?

With the income method, the total amount that was paid for to access the factors of production is looked at.

This shows how much spending happened in the economy. The profits of entrepreneurs is also looked at as it is income earned, and not money spent on production.

Find out more on the income method of GDP at brainly.com/question/994415

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