In gdp we take into account production of horlicks and pizza analyse this statement in context of adequacy of gdp as indicator of welfare?
Dear Student,
Welfare of the people is measured in terms of availability of goods and services per person. Horlicks contributes to welfare as it contributes to good health whereas pizzas are junk food which are harmful of good health thus, their consumption leads in decline of welfare.
Regards
Welfare of the people is measured in terms of availability of goods and services per person. Horlicks contributes to welfare as it contributes to good health whereas pizzas are junk food which are harmful of good health thus, their consumption leads in decline of welfare.
Regards