Discuss the concept of gdp
Macroeconomics
Discuss the concept of GDP, and calculate the GDP from the following information. you should calculate the GDP by the three methods (production, income, and expenditure)
| tea farm | |
| Salary and wages | 30,000 |
| Tax | 2,000 |
| Revenue from selling tea | 100,000 |
| Selling tea for public | 30,000 |
| Selling tea for Ice tea Co. | 20,000 |
| Selling tea for lemon tea Co. | 50,000 |
| Ice tea Co. | |
| Salary and wages | 50,000 |
| tax | 4,000 |
| Tea from tea farm | 20,000 |
| Revenue from selling Ice tea | 200,000 |
| Selling Ice tea for public | 150,000 |
| Selling Ice tea for lemon tea Co. | 50,000 |
| Lemon tea Co. | |
| Salary and wages | 70,000 |
| tax | 8,000 |
| Tea from tea farm | 50,000 |
| Ice tea from Ice tea Co. | 50,000 |
| Revenue from selling lemon tea | 400,000 |
| Selling lemon tea for public | 200,000 |
| Selling lemon tea for Effat | 200,000 |
| Effat | |
| tax | 3,000 |
| Lemon tea from lemon tea Co | 200,000 |
| Revenue from selling | 700,000 |
