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- Helps in measuring the economic performance of the country in terms of output goods/ services/ per capital income.
- Used in measuring economic performance of a country overtime.
- Used to compare performance of one country with other countries.
- Used to determine/compare contribution of various sectors to the national economic baskets.
- Provide the necessary information for economic planning.
- Used to measure/compare the regional distribution of the wealth/different economic groups.
- Acts as a barometer of saving/ investment level.
- Necessary in making investment decision especially by entrepreneurs.
Musyoxx answered the question on February 28, 2018 at 16:13
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