Which factor play an important role in improving standard of living of people
Answers
Answer:
Still another important factor which determines the standard of living of the people of a country is the size of its population. Given the total national income or output of a country, the greater the size of its population, the lower will be its average standard of living.
Answer:
Standard of living generally refers to wealth, comfort, material goods, and necessities of certain classes in certain areas—or more objective characteristics—whereas quality of life is more subjective and intangible, such as personal liberty or environmental quality.
Explanation:
the standard of living of the citizens of a particular country has increased greatly, it positively affects the economic growth of that country. Standard of living helps people to understand the objective factors of life like environmental quality, Gross Domestic Product (GDP), poverty rate, life expectancy etc.