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AP Human Geography
Unit 7 – Industrial and Economic Development
Topic 7.3
Why might economists criticize Gross Domestic Product (GDP) per capita as an inadequate measure for comparing economic well-being across nations?
GDP per capita double counts income from both public and private sectors.
GDP per capita cannot capture variations in cost of living across different nations.
GDP per capita does not include the value of exports in its calculation.
GDP per capita accounts for only agricultural output, neglecting industrial and service sectors.
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AP Human Geography - 7.3 Measures of Development
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Gross Domestic Product (GDP)
Economic well-being
Economists
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