Module 4: The Economics of Globalization

How satisfied are Canadians with their level of prosperity?

Individuals have different views on prosperity. Your satisfaction with what is available to you in your life shapes your view of your prosperity. From the point of view of some people outside of Canada, Canadians are often considered to be quite prosperous. To what extent is this view common among Canadians?

cost of living: a measure of how affordable basic goods and services are in comparison to the average incomes of citizens

This also measures how affordable it is to maintain a high standard of living.

disposable income: the portion of an individual’s wages that remains after meeting the costs of purchasing basic necessities such as food, clothing, shelter, and health care

This lack of income may be a factor in an individual’s ability to access opportunities such as leisure time and non-essential goods.