Lesson 6 - limitations of GDP Flashcards
1
Q
What are the six limitations of GDP?
A
The black market
Non - market activities
Environmental factors
Happiness
Sustainability
Balance of GDP
2
Q
What does the black market refer to?
A
The money earned for illegal activities like the sale of illegal drugs
3
Q
What are non-market activities?
A
Activities which you do that you don’t charge for eg voluntary work
4
Q
GDP is poor at measuring what?
A
The environmental costs of our actions
