The market price of all final goods of a country in a year is known as ........

The market price of all final goods of a country in a year is known as:

GDPMP

GDPFC

NNPFC

None of these

- GDPMP (Gross Domestic Product at Market Prices)

- Represents the total value of all final goods and services produced within a country in a year at market prices.

- It includes taxes and excludes subsidies on products.

- GDPFC (Gross Domestic Product at Factor Cost)

- Measures the value of output by considering the income received by factors of production, excluding taxes, and including subsidies.

- NNPFC (Net National Product at Factor Cost)

- The total income of a nation's residents, accounting for depreciation, at factor cost.

- None of these

- Used if none of the options are suitable.

Correct Answer: GDPMP

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