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Name: Tan chin up Kuan Student ID: 3141181 Tutorial Grp: B2 hebdomad 3 Tutorial 1) Natural disasters and commodious scale human error can gravel flux impacts on countrys gross domestic product. a) Using star of the above precedents, explain wherefore immanent and human-induced disasters often father mixed impact on gross domestic product. In wrong of economy, rude(a) disasters be a negatively charged supply shock such(prenominal) as production is disrupted and usual infrastructures, homes, cars and business assets be damage. outlay is initially delayed exclusively then incr easements as disruptions ease and the repair and replacements of damaged assets gets chthonian way. Many businesses suffered major damaged and remain closed in Christ church, stark new Zealand due to the earthquake. Additional info was sought from nearly 800 Canterbury businesses on the value of their stock lost in the earthquake. Many digging companies declared force majeure, which releases them from obligation when they are unable to hold on together the contract. b) Use your example to briefly demonstrate the limitations of the received methods utilize to measure GDP.

at that place are many limitations of coarse domestic Pruducts(GDP) such as intangible valuables and reputations of output. In terms of new-made Zealands 2011 Christchurch earthquake, people that are living in the red-zone or those only suffered from the disasters might olfactory modality strongly insecure which GDP may be unable to measure. On the other hand, disasters could be added to composition of output which GDP might failed to measure as well. In addition to the non-material aspects of welfare which is excluded from GDP, health, family are the main aspects which were damaged from disasters.If you want to get a full essay, order it on our website: Orderessay

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