Measuring economic - What GDP does not Measure - Nonmarket economic activities
3 important questions on Measuring economic - What GDP does not Measure - Nonmarket economic activities
Why does GDP not consider unpaid services?
Estimating market values is difficult due to absence of prices or quantities.
What implications does this have in poorer countries?
Families often grow food or make clothes instead of buying them through the market.
How do people often exchange goods or services instead of using money?
People commonly engage in bartering to trade services and goods among themselves.
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