Britain's Standard of Living


Britain is enjoying the second highest standard of living in the European Union, according to the guardian.co.uk. The country has seen its consumers buying more and making more than the average EU nation. Their  Actual Individual Consumption is 21 points higher than the EU average, and second only to Luxomberg, the richest country in the world. AIC is measured by consumer purchases in a country and if they are used. This helps gauge standard of living by showing how much is available to a country's citizens.

Overall this year, there are three big things I have learned about economics and the Standard of Living. The first is that the decisions of the country's leader directly impacts the standard of living in a country. The second is that the higher the unemployment, the worse the standard of living. The final thing I learned is that when your country is hit by war, the Standard of Living plummets.