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Explain how the standard of living in the UK could be measured.
Member rating: No Rating | Words: | Submitted: Tue Nov 08 2005
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Explain how the standard of living in the UK could be measured. The standard of living in a certain country primarily refers to the circumstances in which people live. It can be defined as the number of goods and services the population can consume, and the economic resources they have access to. Basic necessities such as food, clothing and housing are fundamental to wellbeing, however standard of living considers people's feeling of contentment, belonging, status and security within the society. The most widely used measure of standard of living is GDP per capita. This measures the average household incomes in the country, and thus how much each household is able to spend on goods and services. The amount of money each household in the UK has available to spend is a key indicator of standard of living as it shows how much a person is able to participate in society. People's ability to...
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