Post
Topic
Board Economics
Re: Standard of living
by
Vatimins
on 07/05/2022, 04:58:48 UTC
The prices of goods and services are increasing everywhere in the world, inflation being the major reason why, the physical and political war in Ukraine is also compounding issues for some specific countries, as we know if prices of commodities are high which they are, people will spend more money to buy the goods they need and pay for the services they want. Standard of living on the other hand is like a general term to quantify the economic well-being of people in any country, meaning if the prices of goods and services are high, people would be able to afford very little goods and services and that will make the standard of living to drop generally, and that also goes vice versa.

So i would like to know what the standard of living is like in your country now compared to five years ago. Was there any sharp difference in the standard of living pre pandemic and now. If there is a great fall in the standard of living in your country, have there been any move by the government and employers of labor to alleviate the sufferings of people. People who live in Ukraine, if you don't mind, i think a lot of people would want to know what it is like there too since the war began.



     Everything has definitely changed sharply from bad to worse in just a short span of 5 years which became even more difficult with the emergence of the covid virus and the war between Russia and Ukraine. Not to mention the natural disasters that took place within those 5 years that have really pinned us down. Even the government is struggling more than it used to in supporting the affected places by these natural disasters mostly the people, their livestock, farms, businesses and so on that has negatively affected the economy. Heck, even the places that were not struck by the natural disasters are struggling with the lack of jobs specially at the times of pandemic when most of the businesses were shut down. Right now, only those that are quite resourceful or have careers that enables them to work freely despite the pandemic are having an easier life than the rest. The others, still suffering. At least though, the lockdowns are not that strict anymore enabling most of the businesses to operate and open up job vacancies for others. But still, the inflation is very difficult.