minimum standard of living is determinali
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Answers
Answer:
Explanation:
Standard of living is generally measured by standards such as inflation adjusted income per person and poverty rate. Other measures such as access and quality of health care, income growth inequality, and educational standards are also used.
A standard based on needs and not on wants. A standard below which no one should be expected to live. the goods, services and activities which allow for an MESL. (comprises over 2,000 items) define minimum needs for households to live at a socially acceptable level.
Yet there is a generally accepted measure for standard of living: average real gross domestic product (GDP) per capita. Let's break it down piece by piece: GDP measures annual economic output — the total value of new goods and services produced within a country's borders.
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