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Food and Beverages Shoes and Clothes Beauty Products Services Entertainment
Food and Beverages Shoes and Clothes Beauty Products Services Entertainment
Food and Beverages Shoes and Clothes Beauty Products Services Entertainment
Instructions
You are tasked to write at least 20 items per category the names of brands of products
that you are using, have used, and/or familiar with.
Then answer the following questions:
1. Would you choose local products over products from these foreign companies? Why?
The difference between the two is the location, foreign products are made in
other countries while local products are made in our own country and a lot of people
spend money on both products. For me, I would choose both because I'm a person who
wanted to explore different products and services. Also, in choosing the products or
service, I'm particularly choosing the quality that the company or business offered.
However, in the current market now there’s a lot of fake products visible and awareness
must be observed, and as a consumer we need to be responsible for spending our
money if it is imported or local made. At the end of the day, what important thing is the
thing that we were satisfied with what we need and whatever we want as long as these
products are safe and valuable for our daily necessity.
2. With what you have listed, do you have ideas where and when these companies
started to produce goods?
4. What is the difference between the standard of living and the quality of life?
The difference between the standard of living and the quality of life is that the
standard of living refers to the level of wealth, comfort, material goods, and necessities
available to a certain socioeconomic class or geographic area. The standard of living is
measured by things that are easily quantified, such as income, employment
opportunities, cost of goods and services, and poverty. While Quality of life is a
subjective term that can measure happiness and intangible. It affects the overall quality
of life. It varies on people’s lifestyles and their personal preferences. Some factors that
can affect a person’s quality of life can include conditions in the workplace, healthcare,
education, and material living conditions. The United Nations’ Universal Declaration of
Human Rights, adopted in 1948, provides an excellent list of factors that can be
considered in evaluating the quality of life. Factors that may measure the quality of life
include the following: freedom from slavery and torture, equal protection under the law,
the right to be treated equally without regard to gender, race, language, religion, political
beliefs, nationality, socioeconomic status, and more.
5. What are some ways you can assess the standard of living?
We know that we define the standard of living as the mode of living. The
standard of living of people means the quantity and quality of their consumption. For
many developing nations, globalization has led to an improvement in the standard of
living through improved roads and transportation, improved health care, and
improved education because of the global expansion of corporations. To assess the
standard of living is to measure using the GDP per capita, Human Development,
and Index, Satisfaction With Life Index. The GDP is the total output of goods and
services produced in a year by everyone within the country’s borders. The higher
the country’s GDP per capita, the higher the standard of living of the citizens.
Another is the Human Development Index, which was instituted in 1990 to assess
development in terms of human wellbeing and economics. It’s a composite statistic
that takes into account health, education, and income. A psychologist developed
Satisfaction With Life Index at the University of Leicester, the Satisfaction With Life
Index attempts to measure happiness directly by asking people how happy they are
with their health, wealth, and education and assigning a weighting to these answers.
Through this, it would assess the standard of living in a certain country.