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Mahmed Najem




Standard of living and its factors. - ESSAY


Standard of living refers to the level of wealth, comfort, material goods and
necessities available to a certain economic class in a certain geographic area. The
standard of living includes factors such as income, quality and availability of
employment, class…

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Mahmed Najem




small group, and the vast majority of a population is very poor, the average income may
be relatively high, although the standard of living of the majority population is low but
GDP will fail to capture this and this can be seen with countries such as Saudi Arabia…

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Mahmed Najem




According to figure 1, the USA surely has the `best' standard of living, while Tanzania has
the `worst' standards of living. This feasibly provides a reasonable scope to `easily'
examine the economic wellbeing and financial health of the citizens of each of those
countries however it doesn't go…

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Mahmed Najem




As seen in figure 2, the graph has almost been inverted showing that according to this
method, the more educated the people, the lower their standard of living is. However it
could be argued that education is just one of many factors that contributes to standard of
living…

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Mahmed Najem




We can see that figure 3 backs up the national income statistics and supports the fact
that the higher the national income, the more healthy people are. This shows that there
is a direct correlation between the two. However there are a couple of anomalies as
seen in…

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Mahmed Najem




To conclude, I think that it is important to use many different indexes when comparing
living standard whether that be over time locally or over different countries. I think it's
also important to bear in mind that each of these indexes can portray the accurate living
standards for…

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