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Asked by Geneiva Kaarto on May 16, 2024

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Gross domestic product (GDP)is a good measure of social welfare since it includes the value of leisure time.

Gross Domestic Product (GDP)

The market value of all final goods and services produced in the nation during a particular period, usually a year.

Social Welfare

Programs and policies designed to provide support for the well-being of individuals and communities, including healthcare, education, and financial aid.

Leisure Time

Free time that an individual can spend away from work, chores, and other obligatory activities, often used for rest, recreation, or personal interests.

  • Assess the limitations of Gross Domestic Product (GDP) as a measure of social welfare and economic growth.
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LC
Lauryn ClinkscalesMay 22, 2024
Final Answer :
False
Explanation :
GDP only measures the value of goods and services produced in an economy and does not take into account non-monetary factors such as leisure time, happiness, and environmental sustainability, which are also important indicators of social welfare.

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