The economic well-being of people living in a country is termed A. standard of living
B. high per capita income
C. developed economy
D. buoyant economy
The economic well-being of people living in a country is termed
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The correct answer is A. standard of living.
The term “standard of living” refers to the overall economic well-being and quality of life of individuals in a country, including factors such as income, employment, class disparity, poverty rate, and housing affordability. It reflects how comfortable and secure people feel economically. High per capita income (B) can contribute to a higher standard of living but doesn’t encompass all aspects. Developed economy (C) and buoyant economy (D) also relate to economic conditions but not specifically to individual well-being.