Talk:Principles of Economics/GDP

explain why measurement of (GDP)will sometimes entail looking at value added by firms?

We are missing the fact about market value: For any quantity $$Q_n$$, in which $$n$$ goods are produced at price $$P_n$$, the GDP is equal to $$(Q_1 \cdot P_1) + (Q_2 \cdot P_1) + ... + (Q_n \cdot P_1)$$. This simply means we need to include the quantity of goods produced times the price for every market value. For example, if 200 pies were sold at $5 each and 100 pencils were sold at $2 each, the economy's GDP is worth $$(200*5)+(100*2)=1,200$$. Musical Inquisit (discuss • contribs) 23:47, 17 June 2019 (UTC)