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socials

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What be the restrictions of measuring development in country by gross domestic product. What be the restrictions? What be advantages?

i not really get this, is is that levels of economic development are hard to measure accurately. what to measure be restrictions in trying to ompare levels of development. i not find any advantages.

  • socials -

    I may have mislead you about GDP by trying to oversimplify it.

    This site has some pros and cons.

    http://wiki.answers.com/Q/What_are_the_pros_and_cons_of_GDP

  • socials -

    thanks very much ms. sue :) what does long hx of use means?

    so for first part is asking for limitations, and that be the measures arnt accurate, it doesnt tell clearly how wealth is distributed in nations, in developing countries you not be able to determine level of industrialization, value of services, exports and imports in developing countries like in developed countries. if wealth of country not shared among the people, the average income figure not reflect the standarf of living for majority. so these all be limitations?

    advantages:

    good comparision data that be easy to calculate and it be used to measure in all countries.

    and ms. sue i find this what it means?

    developing economies have many people who make goods at home and trade them in local communites. Money may not be used in these transactions. this makes it impossible to measure this output. this kind of production is not included in the countrie's acounting systems.

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