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goldfiish [28.3K]
3 years ago
13

Is GDP a good measure of the prosperity of the average person?

Business
1 answer:
lubasha [3.4K]3 years ago
6 0
<h2>Yes GDP is a good measure of the prosperity of the average person.</h2>

Explanation:

GDP - Gross domestic Product

The GDP will take the entire output of goods and services produced in a year by everyone within the country's borders.

  • Real GDP is the best than nominal GDP
  • GDP acts as a component of a human welfare

One drawback of GDP is it does not take the amount of pollution, safety and health. It does not take "well-being" too. Suppose if everyone starts working on weekends without "leisure", "GDP" does not take into account. So  now it fails to check prosperity along with well being of the average person.

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