S3 EconomicsTopic 3: Measurement of Economic Performance17Note 3.1 IntroductionA How to measure the economic performance of a country/region?When the economic performance of a country/region is better, we can also say thatthe living standard of the people may also be higher.1.In your opinion, what is the meaning of "high living standard"?2. Choose one item from the list below and explain how it can reflect the livingstandard of the people.Happiness index, crime rate, average schooling years, life expectancy, averageworking hours, median family income, number of holidays per year, level ofpollution, average weight of rubbish disposed per person, amount of savingsper person1 1.The following diagram shows a production process of an economy.Imported$600materials$4300ExporterAmy's garmentLocalfactorymaterials14Local$400$2000boutiquesWhat is the contribution of Amy's garment factory to the GDP of the economy?2.The following diagram shows a production chain of watches in an economy:Imported materialsS30SI50 Foreign consumersLocal watchmanufacturersLocal watch$120retailersLocal materials$20Find the contribution of the local watch manufacturers to the economy's GDP.

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S3 Economics
Topic 3: Measurement of Economic Performance
17
Note 3.1 Introduction
A How to measure the economic performance of a country/region?
When the economic performance of a country/region is better, we can also say that
the living standard of the people may also be higher.
1.
In your opinion, what is the meaning of "high living standard"?
2. Choose one item from the list below and explain how it can reflect the living
standard of the people.
Happiness index, crime rate, average schooling years, life expectancy, average
working hours, median family income, number of holidays per year, level of
pollution, average weight of rubbish disposed per person, amount of savings
per person
1

1.
The following diagram shows a production process of an economy.
Imported
$600
materials
$4300
Exporter
Amy's garment
Local
factory
materials
14
Local
$400
$2000
boutiques
What is the contribution of Amy's garment factory to the GDP of the economy?
2.
The following diagram shows a production chain of watches in an economy:
Imported materials
S30
SI50 Foreign consumers
Local watch
manufacturers
Local watch
$120
retailers
Local materials
$20
Find the contribution of the local watch manufacturers to the economy's GDP.

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