Question

What does the welfare of a country depend upon

Answer 1

The welfare of a country depends on various factors, including access to education, health, the right to security, low unemployment rates among others.

There are different indicators created in order to effectively measure welfare in a country. The GDP (Gross Domestic Product) per capita, shows the amount of income after it has been evenly distributed among all of the citizens of a country. This, however, does not assess the issue of determining if, in fact, the income is being distributed equally. For this purpose, there is another indicator called the GINI index, which measures the actual equality in the distribution of income among the citizens of a country.