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- 4 family members have a discussion on the limitations of using GDP as an index of welfare of a country...
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- There father arrives...
- Nelly and Peter start a conversation about GDP after Peter eagerly asks her about it...
- Hello Nelly ! Do u have any idea about what GDP is?
- The father and the kids enter the living room and enlighten themselves.
- Hey Peter! Wassup?
- Ok...Are there any limitations of it as well?
- GDP is the market value of all the goods and services produced within a country's borders in a specific period of time.
- OK FATHER
- Let's go to the living room, your mother and I will be able to explain it better together.
- I don't know, you may ask father.
- Baff! Baff!
- Ok...In GDP, many goods and services contributing economic welfare are not included in GDP or Non-Monetary exchanges
- Hi honey! The kids seem eager to know about GDP, will you tell them about its limitations?
- Very rightly said and if we depend only on GDP, we would be underestimating economic welfare
- WELL, I DONT THINK ANYTHING WOULD HAVE GONE INTO POOR PETER'S BRAIN. HAHAHAH...
- THE END...
- Thank you mum and dad! It was a great source of knowledge.
- ZZz...
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