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 an accurate indication of an economy's size, while GDP per capita has a close correlation with the trend in living standards over time, and the GDP growth rate is probably the single best indicator of economic growth.rawbacks. Some criticisms of GDP as a measure of economic output are: 1  It does not account for the underground economy â GDP relies on official data, so it does not take into account the extent of the underground economy, which can be significant in some nations.