1. Standard of Living
Unit 5.4.2

2. Learning Outcomes
To understand how the standard of living can be measured.
To appreciate that other measures of the standard of living can also be used.

4. Where is the best place to live?
I live in Ashford, which is obviously better than Folkestone, but why?
So, you disagree, why is this?
Where is the best place to live in the world?
In a previous lesson, we found out that the American economy is 5 times larger than ours, so surely this means America is best, right?

5. Oh, so Luxembourg is the best place to live

8. Human Development Index
When creating the HDI, the UN look at 3 factors other than GDP and population.
Life expectancy (the average number of years an individual is expected to live at birth). This is a good estimation of the healthcare system in the country.
Literacy rates (the number of people that can read & write)
The number of years in education that an individual receives.