ECONOMICS

Economics

Economics

Since World War II, The Gross Domestic product is serving as an essential indicator for the economic progress of a country. It is being widely employed by politicians and economists all around the world as a measure of social well being; this is a misperception. GDP is merely a gross value of the products that are produced and sold an makes no significant distinguish between factors that add to the social well being and factors that diminish it. GDP takes no account for income distribution and does not distinguish between costs and benefits. Though GDP works best to measure input for ...