Standard of living and national income
A country’s standard of living is how many goods and services its people can afford; its quality of life is how well they live, in health, safety and education. Paper 1 asks how a government’s success is measured (a rising standard of living) and its best single measure (per capita income).
By the end of this page you can
- Give indicators of the standard of living and of the quality of life
- Explain how education raises a country’s output
- Define GDP, GNP, net national product, national income and per capita income
- Tell economic growth from economic development
Goals tick themselves off as you try the activities below.
Photo: Itrydisrespxtsmtsep, CC0, via Wikimedia Commons. Cropped, resized, JPEG q72.
Offices, homes, a port and roads: the output and incomes that national income measures.
How often it shows up in past papers
All papers21 of 23 papers
Last 54 of 5 · 2023–2026
Paper 1 counts come from our past-paper bank of CSEC Principles of Business Paper 1s. The last-5 row shows how often it came up in the five most recent papers.
Inside this topic
- How well people liveLocked
- Measuring incomeLocked
- Key termsLocked
- Test yourselfmarkedLocked
- Practise for real · 39 past questionsLocked