living standards

Question 1

define standard of living

Answer 1

Standard of living refers to the social and economic wellbeing of individuals in a country at a particular point in time

Question 2

define human development index

Answer 2

The Human Development Index is the United Nations’ composite indicator of lliving standards in a country, comprising three
dimensions of human development

Question 3

how can we compare the living standards and income distribution

Answer 3

• productivity levels
• role of the government
• size of population

Question 4

what are the limitations in using the human development index to measure living standards

Answer 4

• qualitative factors
• income distribution
• environmental issues
• cultural differences

Question 4

what are the composite indicators of living standards in a country

Answer 4

• health care
• education
• income levels