ATTEMPT ALL QUESTIONS ON STANDARD OF LIVING ASSIGNMENT

1. Define the term standard of living                    (2mrks)

2. What are its determinants in your economy? (10mrks)

3. Explain the various indicators of low standard of living in your economy (10mrks)

4. What do you understand by the term per capita income? (3mrks)

5. Discuss the uses of per capita income (10mrks)

6. Why are the reasons why per capita income may not be a good indicator of standard of living (10mrks)

7.     What are the limitations of using per capita income to measure standard of living in an economy over time                                                                                               (10mrks)

8.     Explain the limitations of using per capita income figures to compare standards of living between countries                                                                                        (10mrks)

9.     Define the following terms in relation to per capita income

a.      GDP per Capita

b.     Real GDP per Capita

c.      Gross National Income per Capita                                   (5mrks)