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If only market transactions are counted in GDP, which activity may generally be missed?

Answer and explanation

Correct answer: Unpaid care service at home

GDP records production that is supplied through markets or assigned a measurable economic value. Unpaid household activities, such as caring for children or elderly family members, usually have no market transaction and are therefore excluded from measured GDP. Market construction and exported production are normally recorded when produced.

Related tags

EconomicsGdp And WelfareUnpaid Household WorkMacroeconomicsNational Income And Related AggregatesClass 11 Mcq

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