SUMMARY
Gross 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.
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Explains how alternative measures to GDP are calculated and the additional insights they offer for understanding well‐being
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Chiripanhura, B. Measures of economic activity and their implications for societal well-being. Econ Lab Market Rev 4, 56–65 (2010). https://doi.org/10.1057/elmr.2010.97
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DOI: https://doi.org/10.1057/elmr.2010.97