Prepare a one-page analysis on the indicators reflecting economy’s well being

Expert Solution

Answer - The following are the indicators of the economic well being -

1 - GDP - The value of the goods and services produced in the economy in a financial year. The higher the GDP , the greater level of GDP will represent more productivity and development of the economy

2 - Per capita income - The total national income divided by the population gives the per capita income. The more will be the per capita income , the more developed will be the economy . It also ensures that the people maintain a good standard of living

3 - National income - It is found out by adding the foreign income to GDP. Thus total income of the country is called the national income. The greater national income will indicate that the economy is developing.

There are some qualitative indicators such as the health status , the literacy rate which improves the productivity and the efficiency of the operators of economy

Rahul Sunny answered 2 years ago

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