The OECD's Better Life Index

question 203

Multiple Choice

The OECD's Better Life Index

• A)gives a very similar ranking of countries as GDP per capita.
• B)shows that wealthy countries typically have a much lower quality of life than middle income countries.
• C)shows that there is no relationship between quality of life and GDP per capita.
• D)can be expected to completely replace GDP as a measure used by economists in the next few years.
• E)shows that GDP is a highly inaccurate measure of well being.

---

Definitions:

Intangible

Non-physical assets or qualities that cannot be easily quantified or touched, such as intellectual property or brand reputation.

Intangibility

The characteristic of services that makes them unable to be touched, seen, tasted, heard, or felt in the same manner that physical goods can be sensed.

Relationship Marketing

A strategy focused on building long-term engagement and loyalty with customers rather than on individual transactions.

Service Encounter

The exchange between a consumer and a service provider at the time a service is delivered.