Answer:
The measurement of economic development is really a difficult work as every method faces the problems of its own kind.
However some of these problems are discussed as below:
1. Lack of Statistical Data:
ADVERTISEMENTS:
In order to measure economic development accurately, we should have correct assessment of national income, per capita income, per capita consumption etc.
But in under-developed economies the data on national income, per capita income and per capita consumption are not available. Due to lack of statistical data, it is difficult to assess economic development accurately in such countries.
