00:01
Hi, so the question is asking for the option that will not be included in gdp.
00:09
First, let us recall the definition of gdp.
00:13
This stands for gross domestic product.
00:21
And this is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific period of time.
00:32
So total monetary or market value of all finished goods and services produced within a country in a specific time period.
01:18
So gdp includes all of the private and public consumption, government outlays, investments, additions to private inventories, paid in construction costs, and the foreign balance of trade.
01:33
Also, that means exports are added while imports are subtracted.
01:39
Now let's analyze the given options in the context of gdp.
01:44
So option a we have salary to a public school teacher so this is a government expenditure and services so option a is a government expenditure this is a government expenditure and services which is included in gdp as part of government consumption that means option a is included in gdp now for the second second option, you buy some cheese to make a pizza at home for your own consumption.
02:24
So the purchase of cheese is included in gdp as it is a consumer spending on goods.
02:32
So option b is still consumer spending on goods.
02:42
Therefore, it is included in the gdp.
02:46
Option c, you write songs as your hobby and you do not sell your songs.
02:50
So this activity does not involve a market transaction...