welfare measurement

Welfare measurement assesses the well-being of individuals or communities, often through economic and social indicators. It aims to evaluate how different policies or conditions affect people’s quality of life. Common tools include income levels, health status, education access, and overall happiness surveys. By analyzing these factors, policymakers can identify areas needing improvement, ensuring resources are allocated efficiently to enhance the welfare of society as a whole. Essentially, it helps quantify how well people are living and guides decisions to promote greater well-being.