Question

1.If GDP is a good measure of well-being, why is Switzerland’s GDP so much lower than India’s GDP or China’s GDP?

Answer 1

Solution and Explanation:

The national salary itself tells practically nothing; Switzerland's Gross Domestic Product is a lot of lower than that of India or China, yet Swiss residents have one of the most elevated expectations for everyday comforts on the planet. The distinction, obviously, is the populace. Switzerland is a little nation, so national pay is generally little, in spite of its riches. The proper examination is per capita GDP.  

Prosperity can be estimated straightforwardly in an assortment of ways: Health care, Security, Freedom of decision Food Education. These are absolutely preferable measures over cash salary, however, they can be hard to gather and decipher.  

While per capita GDP doesn't legitimately gauge prosperity, it very well may be utilized as an intermediary for direct measures. The wealthiest nations have per capita earnings more than multiple times higher than the least fortunate.  

The following measures can be utilized to analyze the prosperity of various nations.  

Wellbeing Care: Measures, for example, populace per doctor can give a general thought of the degree of human services accessible in a nation. Rich nations regularly have from 400-600 individuals for each specialist. The most unfortunate nations frequently have in excess of 5,000 individuals for every specialist.  

Life Expectancy: Life hope measurements basically condense the normal adequacy of social insurance. In rich nations, the normal future is about eighty years. In poor nations, it's a little more than fifty.  

Food: Using everyday calorie supply per individual legitimately gauges the general measure of nourishment accessible. In rich nations, 3,000 calories (or higher) is a run of the mill figure. A considerable lot of most unfortunate nations have just 2,000 calories accessible. The World Health Organization appraises that 2,600 calories for each day are required for fundamental nourishment.  

Education: Literacy rates show the most fundamental degree of training. In well off nations, proficiency paces of 99% are normal. In the most unfortunate nations, education rates run structure 35-65%.