Question

GOP is not a real measure of human welfare, it can be considered only a component of social welfare.. GDP has always been a measure of output, not of welfare. GDP growth doesn't make people happier always .Many times most people don't benefit from GDP growth

State and discuss limitation of GDP as an indicator of social welfare in the light of the above statement​

Answer 1

Answer:

is not a real measure of human welfare, it can be considered only a component of social welfare.. GDP has always been a measure of output, not of welfare. GDP growth doesn't make people happier always .Many times most people don't benefit from GDP growth

State and discuss limitation of GDP as an indicator of social welfare in the light of the above statement