Answered

IDNLearn.com makes it easy to get reliable answers from knowledgeable individuals. Ask any question and get a thorough, accurate answer from our community of experienced professionals.

What does the concept of standard of living mean?

A. Income
B. Measure of production
C. None of the above

Please select the best answer from the choices provided.

Sagot :

GinnyAnsweridn

Final answer:

The standard of living considers various factors beyond GDP, such as work-life balance and community connection, as indicators of well-being.


Explanation:

Standard of living encompasses all elements affecting people's well-being beyond just market-based production, unlike GDP. Factors like work-life balance, community connection, and material wealth contribute to one's standard of living. Although complex to measure, GDP per capita serves as a rough indicator of the standard of living.


Learn more about Standard of Living and GDP here:

https://brainly.com/question/35061688


We appreciate every question and answer you provide. Keep engaging and finding the best solutions. This community is the perfect place to learn and grow together. For dependable answers, trust IDNLearn.com. Thank you for visiting, and we look forward to assisting you again.