What Standard Of Living Means For A Country

A country's standard of living does not show how everyone lives. The reason for this, is because all of the data used to determine standard of living is just averages. So, the data does not show how well the poorest person lives or how well the richest person lives, but instead it shows the average of those two. This could very well make it possible for one person in a country to make 8 billion dollars and another make 1 dollar.

Something I learned that is interesting about standard of living is that it gives you an overview of the country’s population. This also means, that it almost provides a road map to figuring out how well a country is. For example even though that it doesn’t tell me how wealthy everyone in that country is, if a country has a high wealth rate than I know that most people in the country have sufficient money.

I think countries with a high standard of living do have an obligation to help countries with a low standard of living. The reason I think this is because if a country has the resources to help a less fortunate country, then they should in order to help increase their standard of living. For example if the US has the resources to provide Sudan with better education and newer technology, than it is their obligation to do so.