GDP Can Be Measured by Adding Up All the Income

question 68

True/False

GDP can be measured by adding up all the income people earn by producing new final goods and services.

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Definitions:

Design Thinking

A problem-solving approach that involves empathy, creativity, and rationality to meet user needs and solve complex problems.

Existing Product

A product that has already been introduced to the market and is available for purchase.

New-product Development

The process of designing, creating, and bringing a new product to market to meet consumer demand or exploit a new opportunity.

Generate Sales

The act of creating revenue through the selling of goods or services to customers.