Economics
For each of the sectors that we came across in this chapter why should one focus on employment and GDP? Could there be other issues which should be examined? Discuss.
Econ Sectors Ind
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Answer
Focusing on employment and GDP is crucial when analyzing different sectors of an economy due to their direct impact on economic growth, productivity, and overall well-being of the population. They are internationally acclaimed parameters to asses development of a country. However, there are other important issues that should be examined alongside the given parameters to gain a comprehensive understanding of a sector's impact and performance. For example: Distribution of income, Quality of job (i.e. according to qualifications of an individual); and development related to ecological issues, sustainability and pollution etc. Assessment of quality of life is also required.
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