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Examine the effectiveness of Economic measurements in determining SOL

The ultimate goal of all governments is to improve the general standard of living (SOL) of its population. Discuss the extent to which a government can assess that its goal to improve the general standard of living of its population has been achieved. [13]

Question Requirements


What you need to know to attempt this essay question?

This question touches on the different methods of SOL assessment and the extent of accuracy and reliability of such assessments. You will need to identify the quantitative assessments such as real GDP per capita and the qualitative assessments such as HDI and MEW before explaining the manner of which SOL is assessed. There is also a needed emphasis on the effectiveness of such assessments and the extent of failure in measuring SOL improvements.

Chapters

  • National Income Accounting
  • Economic Indicators

Knowledge Application


How to apply the knowledge to your exam preparation?

With the video serving as a guide, you will comprehend the question requirements and have an outlook of the essay approach. You will then draft out your outline with regards to the one provided in the video and attempt to write an essay that follows your outline. Do take note that you should give yourself an allowance of 25 mins to complete the essay.

Simon Ng

Founder, JC Economics & General Paper Tutor at Economics Focus
JC Economics Tutor Simon Ng of Economics Focus has been teaching A Level Economics and A Level General Paper since 2003. Simon set up Economics Focus to assist students in their pursuit of academic excellence at the examination by providing economics tuition for H1 and H2 students. JC1 and JC2 students are inspired by Simon's clear teaching methods that enabled them to comprehend economics terms and concepts. Simon developed the Rational Thinking methodology to aid students to excel in their JC economics essays and CSQs.