Question

Is women's household work an economic activity ? Give the answer correctly otherwise your answer will Reported.
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Answer 1

Answer:

• In all the many controversies swirling around the measurement of gross domestic product (GDP) in India, most criticisms suggest that the new official GDP statistics overestimate the actual value of economic activity. While there is merit to these criticisms, there’s one important respect in which GDP is almost certainly highly underestimated, the value of non-market or unrecorded activity.

• The largest chunk of such activity is the vast informal sector, which maybe worth as much, if not more than, measured GDP itself. While economists and policy makers debate on how to better integrate the informal into the formal economy, one important dimension has gone largely ignored, which is unpaid household work by women.