Explain how distribution of Gross domestic product is a limitation in taking domestic product as an Index of welfare.
Class XII
National income
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National income is the measure of total value of goods and services produced by an economy over a period of time normally a year.
G.D.P
gross domestic product is the total value of output goods and service produced by the factors of production within the geographical bountry of a country
Distribution
The distribution of the gross domestic product (GDP) across economic sectors in India from 2001 to 2013. In 2011, agriculture contributed around 17.86 percent to the GDP of India, 27.22 percent came from the industry and 54.91 percent from the service sector.
G.D.P
gross domestic product is the total value of output goods and service produced by the factors of production within the geographical bountry of a country
Distribution
The distribution of the gross domestic product (GDP) across economic sectors in India from 2001 to 2013. In 2011, agriculture contributed around 17.86 percent to the GDP of India, 27.22 percent came from the industry and 54.91 percent from the service sector.
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