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SSC MTS 2023 PYQ — Question 66

SSC MTS - 08 May 2023 - Shift 2 • General Awareness • Q66

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The product method which is used to calculate the aggregate annual value of goods and services produced is also called ______.

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Correct answer: D

Explanation

The correct answer is option 4 i.e. value added method.

  • The product method used to calculate the aggregate annual value of goods and services produced is also called the value-added method. This method measures the contribution of each sector of the economy by adding up the value added at each stage of production.
  • Value added is calculated by subtracting the value of intermediate goods and services used in production from the total value of output.
  • It provides a comprehensive view of economic activity by capturing the value added by each stage of production, from raw materials to final products, across all sectors of the economy.