National income and standards of living, Managerial Economics

NATIONAL INCOME AND STANDARDS OF LIVING

Standard of living refers to the quantity of goods and services enjoyed by a person. These goods may be provided publicly, such as in the case of health care or education or they may be acquired by direct purchase. It also includes the less easily quantifiable aspects of living such as terms and conditions of employment and general living environment.

National Income figures can be used to measure the standard of living at a particular point of time and over time. This is done by working out the per capita income of the country. By per capita income we mean: the value of goods and services received by the average man. Per capita income is obtained by dividing the National Income by the Total population. If the per capita income is high, it can be deduced that the standard of living is high.

Posted Date: 11/28/2012 6:09:44 AM | Location : United States







Related Discussions:- National income and standards of living, Assignment Help, Ask Question on National income and standards of living, Get Answer, Expert's Help, National income and standards of living Discussions

Write discussion on National income and standards of living
Your posts are moderated
Related Questions
Plot the demand schedule and draw the demand curve for the data given for Marijuana in the caseabove.

neoclassical thinking assumes that all firms are established to make profit has been challenged by managerial discretion model.How successful have been these models to maximize pro

Q. Discovery of new technical know-how? Growth of Technical Know-how: Expansion of an industry may result in the discovery of new technical know-how. As a result of this firm

Classification of oligipoly

how to solve problems using derivatives ?


THE BUDGET The budget is a summary statement indicating the estimated amount of revenue that the government requires and hopes to raise.  It also indicates the various sources

what are the limitation of managerial economics and what is the solution of it?

iwant presentation on united postal services on social cost and benefits

Q. Explain about isocost line? In economics, an isocost line signifies all combinations of inputs that cost the same total amount. Though, similar to the budget constraint in c