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.
When economists talk about economic growth they are measuring the change in gross domestic product. Lay criticisms of GDP are often based on the indisputable observation that there is more to life than economics and material goods. GDP omits work done in the home, mostly by women.t does not tell us how happy we are or how fulfilling are our lives. These objections are valid but largely beside the point. GDP is a measure of the productive performance of the economy. How that productive potential is used is an important subject but a different subject, and only partly an economic question.