Transcript How can we measure living standards?

How can we
measure living
standards?
By Rania  Fern and Aditi
GDP
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1.
2.
3.
4.
5.
Gross Domestic Product: Total values of goods
and services produced by an economy in one
year
The countries with the top 5 GDP are:
Qatar $145,300
Liechtenstein $122,100
Luxembourg $81,800
Bermuda $69, 900
Singapore $ 62, 200
Advantages of GDP
 It
can be used to measure economic
growth.
 It tells you on average how much output
each person provides to the economy and
therefore is a measure of economic health.
 You can compare countries productivity
and economic health more easily.
Disadvantages of GDP
 It
doesn’t include extremes and work done my
NGO’s.
 A countries economic health may not be too good
by GDP would be high.
 The GDP isn’t measured against the productive
capacity of the economy
The real GDP is a better measure rather than GDP per
capita.
Household income
Household income: The average income of a
household.
1.
Switzerland
2.
USA
3.
Canada
4.
Australia
5.
New Zealand
Educational Attainment
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Educational attainment is referred to as the
highest level and degree of education an
individual has completed
A country uses this statics to work out the %
population who has, for e.g., completed primary
education
From the last e.g. The Government can use this
data to set up government schools which provide
primary education free of cost
A better measure may be the Country’s literacy
rate
Empowerment
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Empowerment is the religious, political or
economic strength of the people
Gender Empowerment is when men (usually)
empower the women. They are considered more
powerful and important than the women
Political empowerment may mean when
different parties empower each other OR when
politicians control the country in a dictatorship
Economic empowerment is when the rich
empower the poor