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.
An estimate of the total value of goods and services produced in a country, GDP aims to best capture the true monetary value of our economy.It is defined by the ONS as the sum total of the final output an economy produces..or example, headline GDP numbers are often quoted as indicating whether a country is growing and by how much. But should our total output increase at the same rate as our population, there is likely to be no resultant rise in our material well-being. This is exactly what seems to have happened in the UK.