Statistical Process Control (SPC) Methods. Statistical process control (SPC) monitors specified quality characteristics of a product or service so as: To detect whether the process has changed in a way that will affect product quality and. To measure the current quality of products or services. Control is maintained through the use of control charts.
The underlying basis of criticism of GDP as a measure of welfare is the divergence between the critic's values and market values. The critics make an implicit assumption, or, quite possibly, a conscious presumption, that the former values are superior, if not far superior, to those of the latter.
GDP is a measure of the total income of everyone in the economy AND the total expenditure on the economy's output of goods and services. In an economy as a whole, income must equal expenditure.DP measures economic output of a country. It is a national income so it is not just what the employees earn as salary but includes other forms of incomes which a country will have-like profits earned by entrepreneurs, rent earned by land owners, interest earned by Banks etc.