Post
Topic
Board Economics
Re: Standard of living
by
Kasabus
on 12/05/2022, 21:36:14 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.

My country is certainly facing a hard situation right now recovering its own economy. People have suffered from unemployment due to closed establishments, good thing a lot of jobs are offered online. And all the goods and services have been increasing so high, that even rich people have learned to tighten their budget. I can say that these things were not as really as hard before the pandemic. Hopefully we'll recover soon.