Economics 0455 · IGCSE · Living standards

Living standards — practice question

On average, people in Norway work just 27 hours each week. They also enjoy more holidays, and for longer periods, than workers in most other countries. In 2013, Norway had the world’s second-highest productivity. It was also placed first in the Human Development Index (HDI). Compared with many other countries, Norway has experienced almost full employment in recent years.
(a)[2]

Define what is meant by ‘productivity’.

(b)[4]

Explain two reasons why productivity could rise.

(c)[6]

Analyse the reasons a country might record a high HDI value.

(d)[8]

Discuss whether a country would gain from having full employment.

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