štvrtok 2. februára 2012

Economic Development: Characteristics

Child dependency ration - the number of children in relation to the number of working (economically active) population, usually expressed as a ratio..

Old age dependency ratio - measures the number of elderly people as a share of those of working age

Child dependency ratio is worse for the economy. Old people dependency means the country has old people therefore the life expectancy is long enough. The cost of living for a old person is usually less then a young person. They usually have built up wealth or still work. 

Old age dependency ratio does not count the whole working life of the old people. 

Unemployment is hard to monitor because people not searching for jobs are not considered unemployed.