explain how national income is estimated using expenditure approach in

1.	explain how national income is estimated using expenditure approach in national income accounting . illuminate the limitations of GDP as a measure of Social welfare
Answer» Answer: Most of the limitations are DUE to the fact that in essence the CONCEPT is not supposed to MEASURE well-being. As a RESULT, GDP fails to account for non-market transactions, wealth distribution, the effects of EXTERNALITIES, and the types of goods or services that are being produced within the economy. Explanation: please mark me brainliest and follow me

explain how national income is estimated using expenditure approach in national income accounting . illuminate the limitations of GDP as a measure of Social welfare

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Answer:

Most of the limitations are DUE to the fact that in essence the CONCEPT is not supposed to MEASURE well-being. As a RESULT, GDP fails to account for non-market transactions, wealth distribution, the effects of EXTERNALITIES, and the types of goods or services that are being produced within the economy.

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explain how national income is estimated using expenditure approach in national income accounting . illuminate the limitations of GDP as a measure of Social welfare​

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explain how national income is estimated using expenditure approach in national income accounting . illuminate the limitations of GDP as a measure of Social welfare