Question

A country’s standard of living depends on its ability to produce goods and services”. What is the link between productivity and living standards of a country? How can you relate this principle with economic conditions of Pakistan?

Answer 1

Answer:

A country's standard of living is directly connected to goods and services produced as the more amount of goods and services produced in a country will increase the job opportutinities in a particular due to this the people start working and get money in their hands which will enhance their standards of living.

we can relate this principle with the economic condition of Pakistan as according to the Report of World Bank Pakistan comes in the category of low income countries because it's amount of production of goods and services was too much less that's why people living there ha low standards of living.

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