Question

The market value of all final goods and services produced within a country during a given time period is called -

Answer 1

Answer:

The market value of all final goods and services produced within a country during a given time period is called Gross Domestic Product.

Explanation:

Gross Domestic Product, or GDP, represents the market value of all final goods and services produced within a country during a given time period, usually one year. Each country's GDP is different. It is dependent on the level of development of a country, but also on the size of the economy of a country.

Some countries have incredibly high GDPs, especially when taken into consideration how small of markets they are, but they are countries that base their economies on very high profile and high earning economic activities. On the other hand, there are countries that have huge potential, but their GDP doesn't reflect that, mainly because of bad politics and domination of economic activities that are not bringing in a lot of money.