Correct Answer - Option 3 : 30 and 35
Everyone wants to be happy. There are few goals in life shared by so many people. Economic activity—the production of goods and services—is certainly not an end in itself but only has value in so far as it contributes to human happiness.
But, surprisingly enough, economists have long left the study of happiness to other disciplines, especially psychology. True, when the science of economics was founded by the classics, it was taken for granted that happiness can be measured and used to determine whether a particular economic policy raises or lowers the happiness of the people affected.
Socio-demographic factors of happiness
Studies were undertaken with data for many different countries and periods of time have identified the following main general results:
- Age affects happiness in a U-shaped manner. Young and old people report being happier than middle-aged people. The least happy people are aged between 30 and 35.
- Women report being slightly happier than men.
- Couples with and without children are happier than singles, single parents and people living in collective households.
- Foreigners report being significantly less happy than nationals.
- People with higher education indicate significantly higher well-being.
- Bad health significantly lowers self-reported happiness.