Paper I · 6 Indian Economy & Planning · 6.1.2 National income

6.1.2.6 GDP and welfare: externalities, non-market work, Green GDP and alternative measures

GDP counts market output, not well-being, so economists add measures for health, education, environment and happiness: HDI, PQLI, Green GDP, Gross National Happiness and others.

  • APPSC Paper I · Paper I
  • Advanced level
  • 6 min read
  • Full course

Key terms

  • GDP and welfare
  • externalities
  • non-market activity
  • underground economy
  • Green GDP
  • HDI
  • PQLI
  • Gross National Happiness
  • Genuine Progress Indicator
  • MPI

What this note covers

  1. Core factsFoundation
  2. ExplainedStandard
  3. DeeperAdvanced
  4. Mains writingMains writing
  5. Common trapsFoundation
  6. Quick revisionFoundation

Read the full note in the app. It is part of the APPSC Paper I full course in Medha AI. Free in the app: the first chapter of each topic.

Read the full note in the app Indian Economy & Planning questions with answers

All National income notes · APPSC Paper I syllabus · APPSC Paper I Mock 1 with answers · Start free

Medha AI writes its own notes and checks them against the sources listed. Medha AI is an independent preparation service. It is not affiliated with, endorsed by or connected to APPSC, TSPSC, MPSC, UPSC or any other commission or government body.