Is the value added by waste pickers included in GDP calculations? For example, if an old washing machine that has been discarded by an individual is sold by waste pickers, does the entire sale price of that old washing machine get added to GDP? Or, for example, which portion of the value created is accounted for in GDP when scrapping an old car?
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Only the value added is counted. So for example from spending approach the value of scrap metal if bought by final consumer and not another firm, or from income approach profits and wages from this activity.
answered Sep 25, 2023 at 11:26