Ask Question
27 October, 05:57

What are the limitations of gdp and gnp

+4
Answers (2)
  1. 27 October, 08:36
    0
    The limitations of GDP. GDP is a useful indicator of a nation's economic performance, and it is the most commonly used measure of well-being. However, it has some important limitations, including: The exclusion of non-market transactions.
  2. 27 October, 09:32
    0
    Limitation of Gross Domestic Products (GDP) Includes

    GDP does not make any measures of welfare and only includes market transactions. GDP does not describe income distribution and what is being produced.

    Failure to indicate whether the nation's rate of growth is sustainable or not and no degree of income inequality in society

    Limitation of Gross National Products:

    The same difficulty regarding economic and social costs arises because there is no identity between the economic costs of producing the current national output and the social costs of the output.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “What are the limitations of gdp and gnp ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers