Question (1 Viewer)

[Vampire]

Does anyone know how to answer this question well?

Explain why Quality of Life indicators as well as income indicators are used to measure standards of living. 3 marks

Thx in advance.

 

[pungpui]

Explain why Quality of Life indicators as well as income indicators are used to measure standards of living

explain - cause and effect...

quality of life and income indicators - include stuff like GDP per capita, that UN quality life number, genii co-efficient, etc.

EFFECT - what is the effect on low and high levels of life indicators, income indicators on the S.O.L.

since its only 3 marks, dont go into too much detail.

 

[mattchan]

its important to study standards of living from the point of view of economic growth and economic development. Without income, there would not be a quality of life. But standards of living doenst just include money, but other things needs to be taken into consideration, life expectency, literacy levels, health etc.

Is that correct by any chance?

 

[Conspirocy]

well i think that quality of life indicators are looking at economic development, however income indicators are looking at economic growth (most of the time)... but when looking at income figures if you take PPP (purchasing power parity) into account then a country with a high income may have low economic development and those with low incomes may have a greater PPP meaning a greater quality of life. also a lower income per capita may represent a more equal distribution of income. and of course if a country has good quality of life indicators then the stardard of living is adequate by global standards

 

[Left-ism]

not sure