Update

Muft Shiksha™ एक 100% Free Education Portal है 🇮🇳, जिसका उद्देश्य Class 9–12 के हर विद्यार्थी तक High-Quality Education को पूरी तरह मुफ्त पहुँचाना है। 🇮🇳 हम मानते हैं कि अच्छी शिक्षा किसी student की आर्थिक स्थिति पर निर्भर नहीं होनी चाहिए। 🇮🇳 हर विद्यार्थी को वही Quality Study Material, MCQs, Quizzes, Exam Preparation, Concept-Based Learning और Bilingual Support मिलना चाहिए, जो आमतौर पर महंगी Coaching या Premium Platforms में मिलता है। Muft Shiksha™ 🇮🇳 इसी सोच के साथ बनाया गया है

Subjects
0 reads0 ratings0 helpful

What main limitation is shown by generally excluding unpaid family labour from GDP?

Answer and explanation

Correct answer: Underestimation of non-market production

Unpaid family labour, such as cooking, cleaning, caring for children, or helping in a family enterprise without a recorded wage, can produce valuable goods and services. Because these activities usually do not involve market transactions with observable prices, they are generally omitted from measured GDP. Consequently, GDP may underestimate actual non-market production and cannot serve as a complete measure of welfare or economic well-being.

Related tags

Unpaid Family LabourNon-Market ProductionGdp LimitationsEconomic WelfareNational IncomeGdp And WelfareNational Income And Related AggregatesEconomics

Was this question useful?

No ratings yetWrite a review / Rate this question

Student Reviews

No published reviews yet.

Add Muft Shiksha to your Home Screen

In Safari, tap Share, then Add to Home Screen.