• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

The standard of living is the measure of the material well being of the given population.

Extracts from this document...

Introduction

The standard of living is the measure of the material well being of the given population. This would include things such as your properties, motors, incomes etc.... it covers anything that can be given a monetary values and excludes those that cannot e.g. happiness or luck. The standard of living is measured mainly by the GDP per capita and focuses on incomes this provides a general guide to the well -being - materialistically of the population in question. If the GDP were increasing this would suggest that the population is better off, there is more wealth within the economy, one may assume there is fuller employment and people are spending more as more is produced. If people are thought to be better off one assume this to signify that people are happier but this is not necessarily true but as this cannot be measured it has to be sidelined. Health is another important factor which is difficult to identify within monetary terms however there are different statistics which can be produced e.g. number of doctors per hospital etc... when the standard f living is measure if comparing over time it will be adjusted for inflation and dealt with in real terms. ...read more.

Middle

Economic 'bads' can increase the figure of the standard of living, even though the 'quality of life' has decreased. For example traffic jams cause more petrol to be consumed but increase the income and output of a county. Also the environment can be damaged in this case, but one person may hold a higher value for the environment than another. These valuation problems apply to health and defense the output of these does not have a market price but the value is determined by the cost of producing them. The quality of life can also be over o under valued because say we take longer holidays output and income may fall but happiness will increase, similarly a crackdown on pollution by rise the prices of supply and therefore consumption but make our lives intrinsically more happy. Another method of measuring the living standard of an economy could be to examine the consumer durables. Thee can be anything from cars to washing machines to nice houses to computers. It is theorized that the more of these items you own the higher your standard of living would be. ...read more.

Conclusion

doctor - a measure of health provision in a country o Hospital waiting lists for important operations o The number of children per thousand of the population who die each year (infant mortality rates) o The average food intake per person (measured by average calorific intake) o The proportion of the population that can read or write - literacy rates o Average educational attainment at different age levels o Crime rates o Divorce rates These statistics should indicate what proportion of the population is enjoying a minimum standard of living although perceptions of what is needed for a basic quality of life vary. The figures could be misleading as in developing nations increases would imply better standards of living and more westernized countries would appear to be worse than they are. In conclusion I think the HDI is the best method to provide an overall picture of the economy and covers very many social aspects which are key to determining somebody's quality of life. The GDP method is the most reliable statistically and most through but the problems outlined are particularly heard to overcome in particular that of the black economy. The consumer durable methods is extremely inefficient ad indicates of nothing expect consumer spending patterns. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Global Interdependence & Economic Transition section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Global Interdependence & Economic Transition essays

  1. Marked by a teacher

    Discuss the Extent to which it is possible to measure developement.

    3 star(s)

    Sustainable development cannot allow damage to the environment or the loss of traditional customs. It may even be opposed to economic growth if it hinders the improvement of quality of life for people, or widens the gap between richer and poor.

  2. Explain how HDI is determined.

    Australia and New Zealand. The HDI value of a country shows the distance that it has already traveled to the maximum value of 1.0 and it also shows comparisons with other countries. The difference between the value achieved by a country and the maximum possible value shows how far the country has to reach.

  1. Explain How Economists Measure Living Standards In an Economy and Discuss The Possible Uses ...

    The figure does not consider the distribution of income in a country; it doesn't include unrecorded activity (e.g. grey market and subsistence) and fails to include environmental degradation. It fails to consider the types of good and services produce. For example, increases in the production of capital goods and military

  2. Events Provision

    (Getz 1997) The fourth event, which will be analysed, is Little Britain Live, which will be held in The NIA. According to the NEC group website, "David Walliams and Matt Lucas have extended their phenomenal Little Britain Birmingham tour dates with a 14th night at The NIA on Saturday 9 December."

  1. Evaluate the usefulness of GCP as a measure of living standards compared to other ...

    pollution and other negative externalities which have a negative effect on living standards which the GDP does not take into account. GDP figures also tell us little about the quality of goods and services produced, which has a major effect on living standards.

  2. Overall the investigation I carried out to see if the Greenwich peninsula had been ...

    Overall I found that the quality of the environment on the Greenwich peninsula very impressive. It is a very clean and green environment refreshing to the mind. The noise level and littering is kept to its minimum compared to other inner areas such as Hackney, Kilburn and so on.

  1. Comparing population, globalisation and social justice in Australia and Indonesia

    is a major area that will allow Australia to cope with its future population needs (Goldie, 2002). There needs to be an overriding legislative power that protects the Murray-Darling basin as well as water regulations that were seen in early 2002 in order to strengthen the Murray River to help supply the agriculture that centres around it.

  2. Leisure & Recreation: An investigation into recent trends

    So people can afford to own and run one. This is good for the leisure industry because it means that more people can get to leisure activitys. And this is made even easier if families own more than one car. Because if one is in use (used to get to work)

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work