describe two alternatives that address concerns that GDP does not adequately account for
environmental damage. What are the major advantages and disadvantages of each?
describe two alternatives that address concerns that GDP does not adequately account for
environmental damage. What are the major advantages and disadvantages of each?
describe two alternatives that address concerns that GDP does not adequately account for
environmental damage. What are the major advantages and disadvantages of each?
Solution
GDP is purely an economic indicator. It ignores the environmental and social impacts of
development.
The two alternatives that can address these concerns are described as follows:
1. Index of Sustainable Economic Welfare (ISEW) and Genuine Progress Indicator (GPI) :
This is a modification to GDP. Unit is in currency i.e $. it has 26 indicators in 4 domains to
asses. In this index, consumption expenditures are weighted by income distribution, with
volunteer and household work added to it and environmental and social costs subtracted from it.
Advantages: it takes care of income inequality, hidden contributors like household work and
environmental damage costs are included.
Disadvantages: It shows reduced developments than what actual GDP shows. So, actual
development in monetary terms might be more than what this index propose.
2. Genuine Savings :
This is an income accounts modification. Unit is in currency i.e $. it has 5 indicators in 3
domains to asses. In this index, level of saving are calculated after depreciation of produced
capital. It includes investments in human capital. The depletion of minerals, energy, and forests
and damages from local and global air pollutants are accounted for in this index.
Advantages: It modifies the savings to make it more real, and social and environmental costs are
included in this index.
Disadvantages: same disadvantage of making the development of a country look more less than
what GDP proposes..
ENGLISH5 QUARTER4 MODULE1 WEEK1-3 How Visual and Multimedia Elements.pptx
Describe TWO energy management opportunities for lift installations..pdf
1. Describe TWO energy management opportunities for lift installations.
Solution
Lift or escalators are consuming majority of power in Buildings. So, Energy management in lift
is much more essential.
There are different areas where we can save / manage energy in lifts.
1) During designing:
2) During maintenance:
