Fri, 23 Jun 2017 11:05:16 +0000 In this article I demonstrate how people’s living conditions can be measured and how statistics play an important role in making decisions using these measurements. There are many types of measurements of living conditions but the most widely-used measure of the standard of living is Gross Domestic Product (GDP) per capita. It is a concept that involves determining the total output of goods and services produced in a year by everyone within the country’s borders [population]. In assessing if numbers tell the whole story about people’s living conditions and standards, Demarchi et al (2016) logically argue that numbers do not lie and confirm that that is why, in our day-to-day lives, we rely heavily on numbers from household surveys, from national accounts, and from other traditional sources to describe the world around us: to calculate, to compare, to measure, to understand economic and social trends in the country. The […]
