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Standards of living and quality of life are two different issues. Quality of life refers to the overall economic, social, political, and cultural conditions under which people live. ...
Two major methods of measuring standards of living are the per capita GNP (on exchange rate basis) & per capita GNP (on a purchasing power parity basis).
Comparing and measuring a countries economic well being is very difficult as different countries have different currencies. ...
People living in the developed countries of the world enjoy a higher standard of living and quality of life than that of people living in the developing or transition countries. The term standard of living is a measurement of people’s economic well being as determined by income, the purchasing power of that income, and government transfer payments and other services provided to individuals to increase that income.
A persons standard of living tells you how well off they are. We can measure their standard of living by looking at
• Their average income
• The average number of calories eaten per person
• The number of people per doctor
• The percentage of people who are able to read and write
• The average life expectancy
• The infant mortality rate
These factors are known as standard of living indicators. Countries that have a high standard of living are mainly found in the northern part of the world, and are called developed countries.
Approximate Word count = 1083
Approximate Pages = 4.3
(250 words per page double spaced)
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