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Is Gross domestic product the best way to measure the health of the economy?? does it...

Is Gross domestic product the best way to measure the health of the economy?? does it really measure the well-being of a society? Say your opinion, then some alternatives .
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Answer #1

The GDP can be defined the market value of all goods and services which are produced in the domestic territory of the country in the current financial years.

Yes, GDP is one of best way to measure the health of the economy but there are other measures also. Yes, it measures the the well-being of a society.

Another best way to measure the well-being of a society is GDP per person because if per capita GDP is increasing, then it means growth of GDP is higher than population growth rate. Higher GDP per capita shows higher standard of living.

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