Measurable economic welfare

Measurable economic welfare is like counting how happy people are because they have enough money to buy things they need or want. It helps us understand if more money is making people happier or if they need more help. Just like how we use a ruler to see how long something is, we use measurable economic welfare to see how well people are doing in a country or community. It also helps us make decisions about how to use money to make everyone's lives better.