Question

Advantages and disadvantages of using expenditure approach of computing GDP

Answer 1

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Answer 2

Advantages

If GDP is high, then production is high, which means that people have the money to purchase goods. This in turn means that firms have the money to employ people. So, a major advantage of GDP is that it gives a clear indicator as to how well.

Disadvantages

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. ... The failure to indicate whether the nation's rate of growth is sustainable or not.

Explanation:

GDP per capita shows how much economic production value can be attributed to each individual citizen. Alternatively, this translates to a measure of national wealth since GDP market value per person also readily serves as a prosperity measure.Here are just a few (there are more than two): GDP doesn't count unpaid volunteer work: GDP doesn't take into account work that people do for free, from an afternoon spent picking up litter on the roadside to the millions of man-hours spent on free and open source software (such as Linux.