why we can't take GDP as an only criteria for finding developed of any country
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Answer:
This is because GDP does not take into account, the liabilities of the country and does not reflect the concentration of money.
Explanation:
It is just a total of amount of money gained by serivces or sales all over the country. We cannot tell that who has money or is money equally distributed.
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Explanation:
GDP also fails to capture the distribution of income across society – something that is becoming more pertinent in today's world with rising inequality levels in the developed and developing world alike. It cannot differentiate between an unequal and an egalitarian society if they have similar economic sizes.
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