Standard of Living

By Anonymous -

Standard of Living
It is important to know about standard of living because it helps you develop empathy for other countries. Learning about the standard of living helps develop empathy because other countries may not be as wealthy, healthy, or educated as the country you live in, so you must develop an understanding for them. It can also help you in choosing where you might want to live when you grow up based on the standard of living in that place. If there is a high standard of living you might want to live there. If there is a lower standard of living you might want to consider somewhere else.
Man Holding White Sack Walking Beside Street Stores
“Man Holding White Sack Walking Beside Street Stores.” Free Stock Photos, www.pexels.com/photo/man-holding-white-sack-walking-beside-street-stores-761144/."
Using the five themes of geography you can identify the standard of living in a region. The movement of goods in a place can be based on the economic activity. Economic activity is what people do with goods and services in an area. Different countries buy, spend, and move goods in different ways. The GDP of an area determines how many goods they can trade with other countries and the values of those goods. The GDP is the market value of all the finalized goods produced by a country over a period of time. This means that they could trade their finalized goods.
      


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