Definition
- Used goods
- Used goods are goods sold again after their first sale, left out because they were produced in an earlier year and counted then.
Example
Can you think of an example of used goods?
A car built four years ago is sold second-hand for £9,000. Nothing new is made, so GDP does not rise by £9,000, though the dealer's fee for handling the sale is a new service and counts.
Test yourself
Can you name the five things GDP leaves out or misses?