Economic and well-being

Economic and well-being

Introduction

Population of a country is very important for the government of that country. Its has lot of advantages and sometimes disadvantages. Disadvantages can be removed by taking measures for the well-bieng and growth of the population. Population is the main part of the country and growth in productivity of population is directly attached to the country's economic condition. Populations plays a vital role in the development of the country and has a great impact on it.

Nowadays Government of many countries are focusing on the welfare of the public, because they have understood the importance of the population and developed countries are progressing dur to their effective and efficeint population.

Government should focus on the well-being of their population.

GDP as an indicator of well-being of population

The output measure of a country is usually done by the Gross National Product (GNP) and Gross Domestic Product (GDP). GDP is defined as the total value of domestic production of goods and services in a given country during a given year by the officers' resident within the country.

It is also the measure of income from production in a given country, these indicators relate to the development of national accounts established after the Second World War. They are limited because of the historical conditions of their appearance, both in their extent and at the conceptual (level. Bruno S. Frey and Alois Stutzer, 2001)

The Gross National Product (GNP) is to assess the value of national production carried out both on the territory of a country and abroad. To do this, subtract from GDP the products and services made in the territory by non-residents (giving rise to the payment of income outside the country) and add the value of products and services made abroad by residents (companies or persons who have thus received income payments ...