Gross Domestic Product
Gross domestic product (GDP) is a common metric used to express a country’s economic might; it is the market worth of all final products and services produced inside the country in a given year. GDP is calculated by adding up the value of all new items and services created in a given year, including but not limited to smartphones, automobiles, downloading music online, machines, steel, bananas, and higher education.
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CBSE Notes Class 10 Economics Chapter 2 : Sectors of the Indian Economy
An economy is understood better when we study its components or sectors. So, in the CBSE Notes Class 10 Economics Chapter 2- Sectors of the Indian Economy, we will learn important aspects of the 3 types of classification of the economy; primary, secondary, and tertiary, organized/unorganized, and public/private sectors. To understand this chapter better, we will relate the topics to daily life and these topics will help us to familiarise ourselves with some fundamental concepts like employment, Gross Domestic Product, and so forth.