Leisure time is not included in GDP, but what would happen if it was included? Would...
Leisure time is not included in GDP, but what would happen if it was included? Would high-work countries like South Korea fare better in international comparisons of well-being, or worse? Search entries or author
Homework Answers
GDP is the measure of total economic activities that take place in a country during a Financial year.
Leisure time is not included in the GDP as it is not bought in the market. Leisure time increase the income of the person or GDP does not increase but the well being of a person increase. Leisure time is the time we do other activities which are not productive to the economy but productive to an individual.
The increase in leisure time will decline GDP rather than increase it. So that is the reason why leisure time is not included in the GDP.
High work countries always face worse when they are compared with international countries against well being as most of the time people working in high work countries will be working for more money where they won't have that much leisure time to check about well being of themselves. So leisure time is always necessary for anyone for his own well being.
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