S5 Economics: National Income Notes 2 by Nabulya MK

These continuing national income notes from Trinity College Nabbingo explain standards of living and economic welfare. They examine how income, prices, employment, education, public services, political conditions and other factors affect wellbeing. The material defines per capita income, distinguishes nominal and real measures, and outlines their uses. It also discusses why per capita income can give an incomplete picture of welfare when assessing a country, comparing countries or tracking changes over time. Questions encourage learners to explain these limitations and discuss standards of living in Uganda.