Living Standards A2 Level Economics

Living standards- from 1970s to 2006

In the 1970s many people didn’t need a phone or even invest in one due to mobile phones not being as technological are they are in the 21st century. For instance the percentage of mobile phones in 1970-72 were 0%. This number then still stayed the same in 1981 with 0% owning a mobile phone. However in 2006 35% of the population did as big companies began to improve and invest in these devices, boosting consumer spending on mobile phones. In addition to this automobiles in the 1970s weren’t as expensive and again technological as they are in the 21st century, as a lot of motorways weren’t built in the 1970s yet. In comparison to this infrastructure began to improve through the decades and more people began to purchase more big ticket items such as cars as more jobs became available and the standard of living rose. This then ment that the in 2006 the number of vehicles using the motorways were 75.5 thousand, daily in comparison to only 28.5 thousand in 1971 (a big difference of 47 thousand vehicles).

Moreover in the 1970s jobs weren’t at the standard wage as what they are now, a medical practionar in the 1970s earned just over £670 per week which seems like a lot but back then bread and other essentials were also a lot cheaper back then. However in 2006, a medical practionar earns over £1245. That is a huge difference of over just under 50%. This then meant that many peoples standard of living rose and so there appetites changed and people began to want more products, goods and services. As indicted in the national statistics the volume of domestic household expenditure on goods and services rose from 100.0 (indices) in 1971 to all over 200.0 in 2006. This then meant the economy becoming more developed and more research for the country as a whole to reduce death rates, diseases and so forth, making us a well-developed country. On the other hand some statistics prove that the economy is worse of in 2006 then it was in 1971....