A steel company sells some steel to a bicycle company for $100. The bicycle company uses the steel to produce a bicycle, which it sells for $200. Taken together, these two transactions contribute

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A steel company sells some steel to a bicycle company for $100. The bicycle company uses the steel to produce a bicycle, which it sells for $200. Taken together, these two transactions contribute

$100 to GDP.

$200 to GDP.

between $200 and $300 to GDP.

$300 to GDP.

$200 to GDP

Explanation:

The GDP ( gross domestic product ) of a country is the monetary value of all the finished goods and services produced in a country within a specific period.from the question the finished good is the Bicycle produced by the bicycle company and sold at $200. hence the transactions involving the sale of steel to a bicycle company and the use of the steel by the company to produce a finished good ( bicycle) contributes $200 to the country's GDP . in simple words the GDP of a country measures the economic output of a country in its own local currency. the bicycle produced is a finished good and can be sold to a local buyer or an international buyer. the steel is not a pure raw material in its ranks but it not a finished good as well so we can't consider its sale as a sale of a finished good therefore we do not consider its sale as a contribution to the country's GDP

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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