What factors contribute to a high standard of living?
High standard of living is determined by the factor of the gross domestic product of the region (GDP), life expectancy and income to the amount of wealth, luxury goods, needs and comfort available for a particular socio -economic group. Those who have a high standard of living, generally benefit from some form of economic stability, have good health and enjoy some discretion revenue. They also lack food, medical care or shelter.
HDP is the value of all products or services generated by the region or countries where the socio -economic group is located. It is calculated by adding the amount of consumer money and government entities to spend on products or services - including the capital expenditure of enterprises for the purchase of factories, tools and machines - and the difference between the money value of exports and imports. High GDP indicates a healthy economy and a high standard of living. Consumer and government expenditures provide companies for incentive to produce denized goods or services and invest ways to provide such goods or services more efficiently. TallThe export sum suggests that the area is self -sufficient and is able to sell excess products abroad.
Donspekt of life is an estimated life of the socio -economic group in the region or country. A lifetime that exceeds national or world average may indicate a high standard of living. Malnutrition and disease are primary causes of death in poor areas. Longer lifetime suggests that food is widely available; Citizens have access to vaccines, examinations and treatment that prevent or fight disease, and live in environments that expose them to several pollutants or toxins.
Income is a monetary value of the individual's service to the employer. Socio -economic groups with income that exceeds national or world average tend to have a high standard of living. Man's education Availability of lucrative jobs usually determines the level of income.
highPay jobs are usually reserved for people who are university education or have special training or abilities that are highly desired. Higher wages usually allow individuals to afford food, housing in areas with small crime or environmental dangers, health care and advanced education for their offspring. Their living costs are usually lower because they can afford more goods and services with their further income.
work that requires small skills or formal education is on the other hand low payment. People with lower incomes are available in areas available to them because of the undesirable characteristics of the environment around them. They can also be malnourished or in poor health because they are unable to buy quality food or consistently to see a doctor. Low -paid tasks generally do not have a high standard of living.
Community with a high Stanndard of Living has a better quality of life than those living on or afterd by the boundary of poverty. These areas have prosperous economies that provide job opportunities and quality goods or services that satisfy the desires and needs of the individuals living in this area. They also have a consistent food source and access to medical care that maintains a healthy and productive population. Finally, places with a high standard of living have an educated population that will guarantee higher wages for their work and allow money to spend money on quality housing, health care, education and nutrition.