2. We learned that self-repairs and doing things at home are not included in GDP

Question

2. We learned that self-repairs and doing things at home are not included in GDP. Yet some cultures and societies rely on self-subsistence; they hunt their food, grow their vegetables and cut the trees to build their homes ("Alaska, the Last Frontier"!). And these societies exist in the U.S. Do you see any danger to omitting this activity from GDP? Explain. Post your answer as a reply to these instructions. 20 Points for your answer to the above questions. Be sure to use some concepts from the text or powerpoints in your explanations/justifications for your answer. 200 words minimum. Due Thursday at 11:59PM

Explanation / Answer

Yes , there is danger if we omits self subsistence activities from an economy , these are :-

* People will die due to starvation if they were not allowed to hunt their own food .

* Demand for food , cloths and house will ungunfortunately rise at a tremendous level .

* Burden on government will increase because they have no work and totally dependent on government .

* Competition will increase in primary , secondary and territory sector of an economy because the number of candidates for a job will increase .

* Price of the commodity will increase because of increase in demand by the people .

* The value of money will go down if price of a commodity increases .

* Activities related to theft will increase because when the people are jobless they will snatch someone else food for existence .

And , as a conclusion if the self subsistence activities will stop in an country it will cause a burden in the economy .

Thank you .

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