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Which of the following indicates a better standard of living?

Answer and explanation

Correct answer: Accessible health and education

Standard of living includes more than income or the value of marketed output. Accessible healthcare and education improve people’s capabilities, health, knowledge, productivity, and quality of life. In contrast, crime, poor sanitation, and pollution impose social costs and can reduce well-being even when income is high. Therefore, option C is the best indicator of a better standard of living and shows why social indicators supplement GDP.

Related tags

Standard Of LivingHealthEducationSocial IndicatorsGdp And WelfareNational Income And Related AggregatesEconomicsClass 11 Mcq

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