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Good measure of national economic well being

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Reference no: EM132415024

Quality of Life has no standard definition. It is broader concept that attempts to embrace the multitude of variables that make people happy. There are many measures of it, but all include GDP and/or Per Capita GDP.

The ultimate question for this week is: "Is GDP a good measure of national economic well being?"

Part of answering that question is a consideration of whether economic well being for the nation is the same as quality of life for the individual? If not, how would you measure quality of life for the individual?

Reference no: EM132415024

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