In which situation my GDP not be an accurate indicator of the health of a country‘s economy

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23-03-2020
Social Studies

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In which situation my GDP not be an accurate indicator of the health of a country‘s economy

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jacknjill jacknjill · Answer 1 · 2020-03-30T04:42:29+02:00

GDP is not always an accurate indicator of country's economy because it does not address health & education level, outside market activities, disparity in income level, technological advancement etc.

Explanation:

GDP (Gross Domestic Production) is not always considered as perfect indicator. As GDP do not indicate health and education level of society. Health and education is one of prime determinant of human resource. Market activities in other countries which influence economic level of country are not included in the calculation GDP.

Inequality in income level, technological advancement, also not included in GDP. Promotion of IT sectors influences market economy at great extent, wide gap in income level between rich and middle class society hampers economic prosperity of a country.