Measures of economic activity and their implications for societal well-being

Blessing Chiripanhura ()

Economic & Labour Market Review, 2010, vol. 4, issue 7, 56-65

Abstract: SUMMARYGross Domestic Product (GDP) is the most commonly used measure of a country's economic activity. GDP, however, has limitations as a measure of society's well-being and of people's material living standards. This article presents alternative measures of economic activity that may be more suitable indicators of society's well-being. The article explains how the different measures are calculated and the additional insights they offer.

Date: 2010
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