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      Chapter

      Economics and Well-Being
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      Chapter

      Economics and Well-Being

      DOI link for Economics and Well-Being

      Economics and Well-Being book

      Economics and Well-Being

      DOI link for Economics and Well-Being

      Economics and Well-Being book

      ByNeva Goodwin, Jonathan M. Harris, Pratistha Joshi Rajkarnikar, Brian Roach, Tim B. Thornton
      BookEssentials of Economics in Context

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      Edition 1st Edition
      First Published 2020
      Imprint Routledge
      Pages 18
      eBook ISBN 9780429283086
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      ABSTRACT

      This chapter looks at cross-sectional data for different countries to make international comparisons on specific economic variables. GDP, or gross domestic product, is a measure of the total value of goods and services produced in a country. GDP is widely used as a measure of a nation’s economic development. GDP only measures market activities and ignores aspects such as health, education, inequality, and environmental sustainability that are central to economic well-being. The inflation rate is a measure of the average increase in prices between one year and the next. It is measured by the change in the consumer price index. The vast majority of scientists believe that human activities are impacting the global climate.

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