IB Economics HL 3.1.5 GDP, GNI, & well-being
IB Economics HL 3.1.5 GDP, GNI, & well-being
Students practise evaluating GDP/GNI per capita as a well-being measure by weighing distributional, environmental, and non-market limitations against income comparability.
How this is tested
- evaluate real GDP per capita using cross-country comparability against well-being omissions
- explain why rising real GNI per capita may improve living standards yet worsen them
- discuss whether economic growth always raises well-being