How effective is Gross Domestic Product per capital as a measure of economic well being?

the advantage and disadvantage of gdp per capital and how it measure the well being of the population.

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    GDP is nothing monetary value of all goods n services produce within a country in a years time.Production of goods depends upon the welfare of employersand its effectiveness.However GDP enjoys lot of disadvantages
    1]Production can be increased due 2 exploitation of workers
    2]Due 2 production of harmful goods
    3]Due 2 production of war goods
    All this factors is not 4 the welfare of the people. Hence it can be the best measure of economic development

    Answered by: viraj dedhia on Apr 08, 2011 Reply

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