INTRODUCTION
The aim of this report is to identify that whether or not the GDP has an effect on the level of happiness of the individuals. The economy which has a higher GDP does not show that the people of that economy are happier. Happiness of an economy can be determined by the social factors. This report will discuss the National Income and GDP and whether it determines the social welfare of an economy and practically apply it on UK’s economy.
This report will discuss GDP and its limitation in estimating the welfare and happiness of the people. Despite ...