GDP (Gross Domestic Product) measures the total value of goods and services produced in a country, but it is not a perfect indicator of economic welfare. While GDP reflects the size of an economy, it doesn’t account for the quality of life or well-being of the people in that economy.

### Limitations of GDP:

1. **Income Inequality**: GDP doesn’t show how wealth is distributed. A country can have a high GDP, but if the wealth is concentrated in the hands of a few, many people may still live in poverty.

2. **Non-Market Activities**: GDP ignores non-market activities like volunteer work, household labor, and caregiving, which contribute to well-being.

3. **Environmental Impact**: GDP does not account for environmental degradation or resource depletion. Economic activities that harm the environment might increase GDP, but they reduce long-term welfare.

4. **Quality of Life**: GDP doesn’t measure factors like health, education, happiness, or work-life balance, which are crucial to overall well-being.

### Additional Factors for Better Measurement:

1. **Income Distribution**: Including measures of income inequality would give a clearer picture of how economic benefits are shared.

2. **Environmental Sustainability**: Indicators that account for environmental health and sustainable practices would reflect long-term welfare.

3. **Quality of Life Metrics**: Including factors like life expectancy, education levels, and happiness would provide a more comprehensive view of economic welfare.

Incorporating these factors would make GDP a better indicator of economic welfare, reflecting not just economic activity, but also the overall well-being of a society.