Question

What do you understand by quality of life .How a does national income provide an accurate measure of quality of life?

Answer 1

hey!!

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Standard of living refers to the level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class in a certain geographic area usually a country.

• The standard of living includes factors such as income quality and availability of employment class disparity poverty rate quality and affordability of housing hours of work required to purchase necessities gross domestic product inflation rate amount of leisure time every year affordable or free access to quality healthcare quality and availability of education life expectancy incidence of disease cost of goods and services infrastructure national economic growth economic and political stability political and religious freedom environmental quality, climate and safety. The standard of living is closely related to quality of life.

Answer 2

Explanation:

Measuring national income and its impact on standard of living. ... National income, as known as Gross Domestic Product (GDP), is the money value of total goods and services produced within a country over a twelve-month period