An Index of the Economic Welfare of Rural Families

Total money value of goods and services consumed in a year is proposed as a measure of economic welfare, together with a short, easily administered index for estimating this value

Magrabi, F. M., Pennock, J. L., Poole, W., & Rachal, J. (1975). An Index of the Economic Welfare of Rural Families. Journal of Consumer Research, 2(3), 178-187.