Studying which factor along with GDP gives a better assessment of welfare?
Answer and explanation
Correct answer: Health, education, environment and income distribution
GDP measures the value of market production, but welfare is multidimensional. Health and education show human capabilities, environmental quality shows sustainability, and income distribution shows whether the gains from production are widely shared. Considering these indicators alongside GDP gives a more complete assessment of living conditions. Therefore, option D is correct; the other factors have no meaningful direct role in measuring welfare.
Frequently asked questions
What is the correct answer to this question?
Health, education, environment and income distribution
Why is this the correct answer?
GDP measures the value of market production, but welfare is multidimensional. Health and education show human capabilities, environmental quality shows sustainability, and income distribution shows whether the gains from production are widely shared. Considering these indicators alongside GDP gives a more complete assessment of living conditions. Therefore, option D is correct; the other factors have no meaningful direct role in measuring welfare.
Which subject and chapter does this question cover?
This is a Class 11 Economics question. Chapter: National Income and Related Aggregates. Topic: GDP and Welfare.
