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Why is the standard of the living different in different countries?
Wiki User
∙ 11y ago
As with individuals, nations have different amounts of wealth, and even if the wealth is fairly distributed, there will and is considerable differences in the standards of living among the several hundred nations in the world. As mentioned, regarding fairness of distribution, the standards of living can be different based on non subjective reasons.
A nation that is rich in Natural Resources and can export these as well as use them internally to their best advantage will help lift the standard of living.
A nation with a sound economic system will also help its standard of living. Another factor is the education level of a nations citizens. Generally the higher the level the higher the standard of living.
A politically stable nation is best for a sound economy. Nations in the midst of civil strife and civil wars hurts its economy and helps lower its standard of living.
Morris Brekke
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What is the main different between developed countries and developing countries?
The income level and standard of living
What is a sentence for standard of living?
People in developed countries have a higher standard of living then people in developing countries.
How does an economist compare the standard of living in two different countries?
by comparing real GDP per capita
Does Japan have a good standard of living?
Yes, Japan has a good standard of living compared to many countries.
Why are countries with more economic freedom have a higher standard of living?
because of this countries follow of global economics and free trade, and standard of living follow free market.
What is Spain's overall standard of living?
the standard of living in Spain is different while you focus in different group of people. however the overall standard is as similar as Italy.
Which countries in the middle east have a high standard of living?
Kuwait
What is the basic measure of developing countries?
A low standard of living.
Which The following characterizes developing countries?
A low standard of living
What is a main difference between developed countries and developing countries?
The income level and standard of living
What is the main difference between developed countries and developing countries?
The income level and standard of living
How did the Industrial Revolution affect the standard of living for people in industrial countries?
The industrial revolution affected the standard of living for people in industrialized countries by improving food production and lowering production costs.
