Question
An increase in per capital income is not an indication of an increase in the economic welfare of the people
Answer: Option B
Answer: (b)
An increase in per capita income due to increased production of intoxicants cannot be taken as economic welfare as it defeats the very notion of welfare.
Economic welfare refers to the level of prosperity and living standards of either an individual or a group of persons.
Factors used to measure the economic welfare of a population, include:
GDP,
Literacy,
Access to health care, and
Assessments of environmental quality.
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Answer: (b)
An increase in per capita income due to increased production of intoxicants cannot be taken as economic welfare as it defeats the very notion of welfare.
Economic welfare refers to the level of prosperity and living standards of either an individual or a group of persons.
Factors used to measure the economic welfare of a population, include:
GDP,
Literacy,
Access to health care, and
Assessments of environmental quality.
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