CSEC Principles of Business · May/June 2013 · Paper 2 · Question 7(c)(ii)
State TWO factors which make it difficult to compare the standard of living of different countries.
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- 7(a)(i)Define the term 'per capita income'.[2 marks]
- 7(a)(ii)Explain how per capita income is calculated.[2 marks]
- 7(a)(iii)State ONE advantage and ONE disadvantage of using per capita income to measure a country's standard of living.[2 marks]
- 7(a)(iv)List TWO factors, other than per capita income, which may be used to measure the standard of living.[2 marks]
- 7(b)Discuss TWO factors which may cause the per capita income of a country to rise.[6 marks]
- 7(c)(i)Describe any TWO of the following methods used to calculate a country's national income: a) The income method b) The expenditure method c) The output method[4 marks]
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