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QoL: Economic aspect (Indicators for measuring economic performance…
QoL: Economic aspect
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GDP and GDP per capita
GDP
It refers to the total market value of all final goods and services produced by the residents within a given country or region in a given period of time.
GDP per capita
= The GDP of a given country or region in the evaluated year / the total population of that country or region in that year
Median income
Definition
It is the income of the unit in the middle of he group, in which all units (personal or household) are arranged in ascending order based on their income.
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Poverty
Poverty line
Definition
It is a relative standard to measure whether the country's or regions lowest income group can satisfy basic living needs, so threshold varies in different countries and places.
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