Paper I · 5 Indian Economy & Development · 5.1.2 National income

5.1.2.6 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.

  • TGPSC MPSO / ASO · Paper I
  • Standard 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

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