AS Paper 2, June 2024The UK Economy – Performance and Policies
AS Paper 2, June 2024, Q1(b)
Explain one limitation of using GDP data to compare living standards between developed and developing countries.
Short answerExplain3 marks
Context
In 2019 the average annual percentage increase in real Gross Domestic Product (GDP) was 1.7% in developed countries and it was 4.6% in developing countries.