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 basically used to measure the economic well being of population in a country through the concept of standard of living. From GDP, economists derive real GDP per person (per capita).DP is basically used to measure the economic well being of population in a country through the concept of standard of living. From GDP, economists derive real GDP per person (per capita).