CUET Economics 2026 13h May Shift 2 PYQs

Which of the following are limitations of using GDP as a sole indicator of welfare?

A. Public park used for recreation activities.

B. It does not account for income equality.

C. It does not evaluate the value of unpaid household work.

D. It can be increased due to activities which may be harmful to the environment.

Choose the correct answer from the options given below:

Final goods are those goods.

In occurrence of which type of externalities, GDP will underestimate the actual welfare of the economy?