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Michaela Duncan
13 March, 08:39
What are the limitations of gdp and gnp
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Kiera Mitchell
13 March, 10:00
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Limitation of Gross Domestic Products (GDP) Includes
GDP does not make any measures of welfare and only includes market transactions. GDP does not describe income distribution and what is being produced.
Failure to indicate whether the nation's rate of growth is sustainable or not and no degree of income inequality in society
Limitation of Gross National Products:
The same difficulty regarding economic and social costs arises because there is no identity between the economic costs of producing the current national output and the social costs of the output.
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Cruz Allison
13 March, 10:44
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The limitations of GDP. 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.
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