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Discuss what the shortcomings (limitations) of GDP as a measure of well-being and welfare of a nation are?

Education

Education

Discuss what the shortcomings (limitations) of GDP as a measure of well-being and welfare of a nation are?

Part 1: Gross Domestic Product (GDP) is the broadest measure of output for an economy.  However, GDP does not perfectly measure well-being of a nation and its citizens’ welfare.  Discuss what GDP is and what it measures?  Discuss what the shortcomings (limitations) of GDP as a measure of well-being and welfare of a nation are?

Part 2: Evaluate the four building blocks of a supply network strategy and how they work together to form an effective supply chain. Review the case study “Surplus Styles” in your textbook on page 46.  Then briefly answer questions 1 through 3.  Also, provide your insights into how Derick should resolve his problem including (a) what steps he should take, (b) should he go out for quotes from a list of vendors or negotiate with his current vendor.  Finally, think about and briefly discuss what the differences are when selecting vendors to meet cost points versus meeting quality standards.

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