Standard of Living

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  • Comparing Living Standards
    • Measures access to levels of material comfort within their income.
    • GDP
      • Critisised for being too narrow a measure of broader quality of life.
      • Measures growth in an economy overtime
      • No account of inequality
      • Does not address pollution and waste (results of economic growth)
      • Measured in country's currency but exchange rates change
    • HDI
      • Alternative measure to GDP
      • Standard of living, life expectancy and education
      • Goals
        • GDP per head = $40,000
        • Life expectancy = 85 years
        • 100% adult literacy rate
        • Scored between 0 and 1
          • 0.9 + = very high. 0.8-0.89 = high. 0.5- 0.79 = medium
      • Only focuses on education and health care
        • No environmental
    • HPI
      • Human Poverty Index
        • Human Deprivation
        • % below poverty line
        • Rate of unemployment

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