What is the standard of living?
The standard of living is the name given to the general demographic measure, which attempts to combine different conditions - such as education, purchasing power and health care - into measurable statistics. It is different from related, but more vague measurement known as the quality of life , which also considers more subjective factors such as opportunities and happiness in leisure time. This measure is used in many ways, most often in a comparative economy that opposes each other in the financial health of its citizens. Only in this measure, countries such as the US and China inevitably rank or close to the top of their economies. However, when taking into account additional factors that include the standard of living, Change charts may dramatically. For example, with so many different ways to measure the quality of the country's health care, there is no single specific list of factors that include the unified standard of living. As a result, there are many different statistics generated by different research groupMi that can be called the standard of living.
Nevertheless, there are some basic factors that get into most standard rating life. One of the most common is GDP on Capita. This basically describes the country's wealth on the basis of a person. It includes part of the human development index, one of the most popular estimates of the standard of living and the UN is used to assess the relative development of countries around the world.
GDP Per-Capita is considered to be revealed measures than the overall GDP because more precisely reflects how much income the average person takes home. It is used in conjunction with statistics such as wage disparity, and a more true image of the country's real life standard appears. For example, the US has one of the largest GDP on Capita, but also one of the biggest wages in the world. This means that the abyss between the rich and the poor in America is greater than in other countries. This is used to knock the USAnd on the list, while countries with smaller overall GDPs - but less wage disparity - can see how their charts are improving.
other factors that may or may not be included in the standard of living, include life expectancy, gender equality and political stability. Different scientists can assign more or less weight to these different factors. The most effective research groups publish their methodology together with their results, and it is important to be aware of what goes into the formula in comparing the evaluation.