I would appreciate any help with regards this GCSE Edexcel Business Studies question: 'Using the data, evaluate which of the four countries has the highest standard of living'.
The data refers to some graphs, which I will discuss below because I can't upload them right now. There are 4 countries being referred to: Nigeria, Kazakhstan, Thailand, and Ukraine - but it definitely appears that it's either Kazakhstan or Thailand which has the highest standard of living. The data shows the following:
1) Thailand has a slightly higher literacy rate vs. Kazakhstan.
2) Thailand has a much higher GDP, but a much lower GDP per capita vs. Kazakhstan.
I assumed this meant Kazakhstan has the higher standard of living - here's why:
Thailand has a low GDP per capita relative to its much higher GDP suggesting it has a large population in which the people earn relatively little – the average standard of living is low. In contrast, Kazakhstan has a high GDP per capita relative to its much lower GDP, implying Kazakhstan has a small population but in which the people have greater incomes: the amount of goods and services they can buy with their income in a year is higher than in Thailand, and so it follows that Kazakhstan’s population's standard of living is higher than Thailand’s. Furthermore, whilst Thailand does have the highest life expectancy rate – from which it can be inferred that its population has the highest quality of life and assumingly standard of living – it is important to note that Thailand’s life expectancy rate is only marginally greater than Kazakhstan's. Overall the data suggests Kazakhstan has the highest standard of living.
But I'm not sure if this response is actually right or just waffle, since I don't have the answers. Any ideas?
Business Studies: Kazakhstan or Thailand - higher standard of living? watch
- Thread Starter
Last edited by TheWantedGuy; 08-04-2013 at 15:54.
- 08-04-2013 15:26
- 08-04-2013 20:07
wtf we don't learn any of that stuff in aqa business