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21. What does GDP primarily indicate about an economy? As such, what are some of its flaws? (5 pts) GDP indicates the growth

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GDP reflects on the income and output level of economy.A higher GDP is associated with high income and high output.An increase in GDP indicates that the economy is growing.

GDP does not take into account the quality of life because educay, healthcare, environmental condition and some other social factors are not included in GDP.A low GDP does not necessarily mean a poor quality of life.Bhutan is a small country with a good quality of life but low GDP compared to India with a not so good quality of life and high GDP.

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