What are non - monetary exchange ? Give an example. Explain their impact on use of GDP as an index of welfare of the people.
Dear student,
Non monetary exchanges are those activities which cannot be recorded in monetary terms because of non availability of data and problem of evaluation.
For second part of your question, kindly refer the given link.
https://www.meritnation.com/cbse/class12-commerce/ncert-solutions/economics/introductory-macroeconomics/matter-in-our-surroundings/page31-exercise-qno12/341_1987_12815
Regards
Non monetary exchanges are those activities which cannot be recorded in monetary terms because of non availability of data and problem of evaluation.
For second part of your question, kindly refer the given link.
https://www.meritnation.com/cbse/class12-commerce/ncert-solutions/economics/introductory-macroeconomics/matter-in-our-surroundings/page31-exercise-qno12/341_1987_12815
Regards