(Table: Smartwatch GDP in Singapore)

Essay

(Table: Smartwatch GDP in Singapore). Use Table: Smartwatch GDP in Singapore. Why is real GDP per capita used as a measure of a country's standard of living? What are some of the limitations of using real GDP as the only measure of a country's quality of life?
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$$\begin{array} { | l | l | } \hline \text { 2018 Smartwatch Production } & 4,000 \\\hline \begin{array} { l } \text { 2018 Smartwatch Prices (base } \\\text { year) }\end{array} & \$ 500 \\\hline \text { 2018 Population in Singapore } & 10,000 \\\hline \text { 2019 Smartwatch Production } & 4,400 \\\hline \text { 2019 Smartwatch Prices } & \$ 600 \\\hline \text { 2019 Population of Singapore } & 12,000 \\\hline\end{array}$$