The opinion of economists have varied on this issue regarding the considerable of the GDP is the appropriate measure to understand the well-being of the nation. While most of the economists have relied on this economic indicator as the main determinant of the standard of living, the others have differed stating that the other intangible and tangible factors like education, health as well as ecological environment to be important factors as well. Simon Kuznets who framed the term GDP even warned that the measure is not an appropriate indicator of the well-being of the nation (Kuznets, 1934). Thus is clear that the GDP was never devised to measure the well-being of nations. With the occurrence of the Bretton Woods conference this measure started being used widely in most of the nations of the world since 1944. GDP as an economic indicator The Gross Domestic Product of a country is the sum of the goods and services of the country taken at the market value. In order to understand the concept of GDP it is important to know how the GDP of a nation is arrived at (Landefeld, 2008). There are a variety of ways in which the GDP of a country can be measured. ...Show more
Is Gross Domestic Product (GDP) a good measure of wealth and well-being? Contents Contents 2 Introduction 3 GDP as an economic indicator 3 Defects in GDP as a measure of the well-being of the economy 4 Subjective well-being of the nation 6 Alternative Measures of Economic wellbeing 6 Conclusion 7 References 9 Bibliography 10 Introduction The Gross Domestic Product of a country is the sum of the market values of all the goods and services that are produced during a given span of time…
The Ever-Normal-Granaries refers to a stabilizing program established in China during the 1st Century requiring all provinces throughout China to store excessive grain supplies for meeting demands when food supplies fell. The logic behind the Ever-Normal-Granaries was that if grain supplies were stable, the price of grain would also be stabilize.
For years, the mission statement of this company has been to give best services that improve human welfare by devices and services that extend life, alleviate pain, and restore health (Brosky, 2013). It has been evident that the company is meeting its mission statement as it is providing doctors with medical procedures that meet the needs of health care all over the world (Edwards, 2012).
 Globalization can be defined a worldwide phenomenon of increased interconnectedness in terms of economy, technology and culture. Since the start of the era of mankind, both capitalism and globalization have been the driving force of each other. In an economy that is globalized, the economies activities are unrestricted in terms of national boundaries and time zones.
Aside from this, small businesses also have balance sheet total or asset component of not more than ₤2.8 million and employment size of less than 50 employees (Small and Medium Sized Enterprises 2004).
The European Commission does not depart
There are plenty of competitors within the area, but management is confident that it will get its share of customers with its signature blends and customer service oriented staff and crew.
To make the product lines distinct from those of
Gersick suggests that groups do not inevitably progress linearly from first step to another in a prearranged sequence. Gersick analyzed the impact of deadline pressures on the development procedures of working teams. She proposed a “punctuated
Apart from the literal meaning, the realism practices have been expressed throughout the history in the shape of arts, theatre, literature and painting.
In short, it is the attitude of portraying the things as they are
At day 21, the neural plate, or primitive neural tissue, occupies the external layer of embryonic cells. The neural plate folds to create the neural groove, with the latter curling to produce the neural tube. After cell birth is cell migration, which takes
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