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Yogita Ingle 5 years, 10 months ago
Green GNP. GNP does not take into consideration the cost in terms of (i) environmental pollution, and (ii) depletion of natural resources caused by production of output. Mere increase in GNP will not reflect improvement in quality of life if it increases environmental pollution or reduces available resources for future generations. That is why concept of Green GNP has been introduced while measuring economic welfare.
Green GNP is defined as "GNP which is indicator of a sustainable use of natural environment and equitable distribution of benefits of development." This concept denotes the following characteristics (i) Sustainable economic development, i.e., development which should not cause environmental degradation (pollution) and depletion of natural resources (ii) Equitable distribution of benefits of its of development. (iii) Promotes economic welfare for a long period of time.
Expressed in the form of an equation:
Green GNP = GNP - Net fall in stock of national capital.
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Yogita Ingle 5 years, 10 months ago
- Gross Domestic Product (GDP) is the market value of the final goods and services produced during a year within the domestic territory of a country.
- Here only final goods and services are counted to avoid the problem of double counting.
- For e.g. a farmer sold wheat to flour mill for Rs. 10 per kg. The mill grinds the wheat and sold the flour to a biscuit company for Rs. 12 per kg. The biscuit company uses the flour, sugar and butter to make 5 biscuit packets. He sold the biscuit to the consumer at Rs. 15 per biscuit packet.
- Here biscuits are the final goods that are purchased by the consumer. Wheat and wheat flour are the intermediate goods used in the production of final good.
- The value of Rs. 75 already includes the value of flour Rs. 12.
- Hence only the value of final goods and services.
Therefore, GDP = Value of output − Intermediate Consumption
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Yogita Ingle 5 years, 10 months ago
Current account is that account of BoP, which records exports and imports of visible and invisible items and unilateral transfers. Current account shows the trade position of the country. Whereas capital account shows the assets and liabilities position of the country.
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Yogita Ingle 5 years, 10 months ago
Following are the differences between the 'Factor Income ( FI )' and Transfer Income ( TI ) are :
1. Factor Income is a payment received in exchange of any good or service while as Transfer Income is received without rendering any service or good.
2. F. I includes wages, rents, profit and interest while as T.I comprises gifts, subsidies, donations, pensions, scholarships etc.
3. F.I is a earned money and bilateral payment while as T.I is unearned and unilateral payment.
4. F.I is included in National Income while as T.I is not.
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Posted by Anil Chettri 5 years, 10 months ago
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Yogita Ingle 5 years, 10 months ago
| Basis | Nominal GDP | Real GDP |
| Meaning | The aggregate financial business value manufactured within a country is known as Nominal GDP | The measure of GDP modified according to the changes in the general price level |
| What is it? | Inflation without GDP | GDP Inflation-adjusted |
| Communicated in | Present year prices | Beginning year prices or regular prices |
| Worth | High | Low |
| Uses | Compares different quarters of a particular year | Compares two or more financial year |
| Financial Growth | Analyzing is not easy | Measures economic growth in an excellent manner |
Posted by Anmol Gandhi 5 years, 10 months ago
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Yogita Ingle 5 years, 10 months ago
The percentage of poor was 40% in 1960s that reduced to 25% in 1980s and started going
up in 1990s.
The causes for% the slow down of growth and remergence of poverty are as given below
(i) The agricultural growth and food were not based on institutional basis of technology. Rather, it was based on good conditions. When the conditions were good the economic growth showed positive trends and vice-versa.
(ii) In Pakistan, most foreign exchanges came from remittances from . Pakistani workers in the middle east.
(iii) In Pakistan, there is more dependence on foreign borrowings and increasing difficulty in
paying back the loans.
(iv) Inadequate infrastructure for manufacturing sectors.
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Anushka Dangi 5 years, 10 months ago
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