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Healthcare standards, education standards, crime rate, GDP, lifespan

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material- quantity/quality/type of Good and Service(Public Transport)
Non material-Free time(leisure time),Belonging(good family),Environment(low air pollution)

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Survey on citizens households expenditure on G&S/income/satisfaction for working environment

Corporate Tax to check how much G&S Firm sell

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Biased/Not responsive to survey.
Responses might not be updated.
SOL is very hard to be determined just by GDP, because it’s the total money of all final G&S produced within a countries and it does not reflect individuals spendings. Inequity might still exist.

GDP is also not good in reflecting the types of G&S produced( quality—>Superior goods?)

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GDP
Working hours
No of MRT per km
Carbon emission
life expectancy
PSI
literacy rate
Access to education(School fees)

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GDP
reason: GDP shows the total market value of all finals goods and services produced. So with this data, we might be able know how much the people in the country spent, thus know their spending power and thus estimate their standard of living.
High GDP also indicates the real economic growth rate.

GPL
Reason: GPL shows the price stability of the country and allows us to know the inflation rate. Low and stable inflation rate is good for the economy thus SOL would increase.

Working hours of the workers
Reason: Longer working hours indicate that workers are overworked and does not free time. They are not enjoying the non-material SOL.

Amount of money government spent on education
Reason: the more money government spent on education means that the literacy rate would be higher. Which means that the quality of workers would be higher with higher education (more skilled) thus are able to enjoy higher SOL.

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GDP may not be as effective in reflecting the quality of goods and services

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population size
national income---gdp
unemployment rate
crime rate
working hours
air pollution (environment)
healthcare

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total income by country
avg working hour per citizen
Google map Apple map?
measuring Instruments

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pop size- census
national income- output of all firms, receipts after goods and services are produced
crime rate- all police stations report the number and nature of crimes annually
unemployment rate- data from every household
working hours- every firm reports average number of working hours for each employee
environment/ air pollution- air quality index

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Crime rates
Average Life expectancy
Pollution level
GDP
Price of healthcare

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Income Gap makes gdp inaccurate
No of working hours does not mean spending good quality leisure time

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1. Affordability of healthcare ->
2. Infection rate
3. Literacy rate -> diagnostic test for population
4. GDP ->

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unemployment- same may be unemployed since they have inherited wealth and so don't need to work

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To solve non material SOL
Better live index
Human development index-can be improve by adding aspects such as environment
Social progress index(basic human needs)

To solve unrecorded economic activity
Law enforcement

To solve less reliable when income inequality is high

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~1) happiness index, crime rates, affordable access to quality healthcare, availability of education, quality of education, incidence of disease,~

1) • Human development index (degree of progress & well-being of citizens) - life expectancy (sedentary lifestyle - unhealthy, developing countries get diseases easily, limited vaccines), education level (years of schooling - retain, quality of education not accounted for)
*  Measurement of economic welfare (MEW - quantitative aspect in monetary terms e.g leisure time, unpaid work)

2) Black economy, SNA

3) Gini coefficient-> measures income inequality

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Weakness:
- GDP can only reflect material SOL and not non-material SOL. Hence, can use other indicators such as HDI, HPI and MEW (Measurement of economic welfare).
HDI: takes into account life expectancy such as health, education such as years of schooling, more years in school, more educated.

MEW: Includes indicators of the country, leisure time, unpaid work and environmental damage. Related to working population

- GDP does not reflect unrecorded economic activities. Hence, can use other indicators such as GPI (Genuine Progress Indicator).
GPI: It reflects the cost negative effects related to economic activities. Such as cost of crime rates.
https://www.economicstuitionbukittimah.com.sg/economics-tuition-what-are-the-non-material-aspects-of-standard-of-living/
- Unable to show sustainable rate of growth.
Hence, can use AD/AS graph to demonstrate the long term effect of the economy.
- Adjusting entries

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green gdp
addresses employing manufacturing practices that harm the environment