Question

A. Discuss how GDP can apply to workplaces today.

B. Explain the role of unemployment and its effect on the economy.

C. Discuss your opinion on employmemt rates and GDP in regaurd to the economy overall.

Answer 1

QUESTION-1

USES OF GDP AT WORK PLACE-

the concept of GDP can be used for the observational and analysis purpose for the following concern-

• sectoral wise contribution
• to know the phase of the economy
• to estimation of the progress

QUESTION-2

unemployment is a serious crisis in the economy which leads to the wastage of labor and human capital and their efforts.if unemployment exist in the economy for a longer period then it would lead to

• recession
• hurdle in economic growth
• burden on the government
• Under utilization of available resources in the economy

QUESTION-3

role of employment and GDP in the economy

• these both element represent the economic growth in the economy.
• these represent which sector of economy (primary , secondary , tertiary ) are contributing how much.
• helpful in making policies