Economic Well Being (week 8)

wellbeing definition

an overall measure of the ability of humans to access the things they need in order to live well

what variations do geographers interested in measuring

-way people live 1

-levels of education 2

-access to health care 3

-levels of employment 4

what is economic prosperity

refers to a country's economic growth, security, and competitiveness

how do economists measure economic prosperity

-GDP percentage change 5

-GDP per capita 6

-Unemployment 7

-inflation 8

what is material living standards

our access to physical goods and services and how much we can buy

how do geographers measure living standards

-qualitative data (opinion)

-quantitative data (number)

-cartogram 10

-choropleth map 11

What is qualitative data?

opinion based data

What is quantative data?

number based data

How do geographers classify countries?

-LEDC 12

-MEDC 13