Since, economic welfare is a qualitative aspect of development; it needs to be measured in some way or the other. Some ways to measure the economic development are as follows: Growth in GNP/GDP. Per Capita Income as an Index of Economic Welfare. The Physical Quality of Life Index (PQLI)
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Since, economic welfare is a qualitative aspect of development; it needs to be measured in some way or the other. Some ways to measure the economic development are as follows: Growth in GNP/GDP. Per Capita Income as an Index of Economic Welfare. The Physical Quality of Life Index (PQLI)
some ways to measure the economic development are :
1. growth in GNP/GDP
2. Per Capita income as an index of economic welfare