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Explain the Two Main Methods Used to Measure GDP

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Explain the two main methods used to measure GDP.


Definitions:

Title

The legal right to own, use, or dispose of property, as well as the formal document that serves as evidence of such ownership.

Market Gardener

An individual or business involved in the small-scale production of fruits, vegetables, flowers, or plants for sale.

Sale of Goods Act

Legislation governing the sale and purchase of goods, ensuring rights, and obligations of both buyers and sellers are adhered to.

Purchase Order

An official document issued by a buyer committing to pay the seller for the supply of specific goods or services.

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