sharmasabitri4
Answered

Looking for reliable answers? Westonci.ca is the ultimate Q&A platform where experts share their knowledge on various topics. Join our Q&A platform and connect with professionals ready to provide precise answers to your questions in various areas. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

Economic aspects determine the life standard, how?​

Sagot :

bisikapokhrel91

Answer:

Gross domestic product, or GDP, measures the total output of the economy, including activity, stability, and growth of goods and services; as such, it's seen as a proxy for the economy. The standard of living is derived from per capita GDP, determined by dividing GDP by the number of people living in the country.
In a narrow sense, economists frequently measure standard of living using GDP. Per capita GDP provides a quick, rough estimate of the total amount of goods and services available per person. ... Standard of living is generally measured using per capita GDP. Standards of living are usually higher in developed countries.
Thanks for using our platform. We're always here to provide accurate and up-to-date answers to all your queries. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Thank you for visiting Westonci.ca, your go-to source for reliable answers. Come back soon for more expert insights.