Final answer:
The degree of individualism in a country as defined by Hofstede is most closely related to the country's wealth, with wealthier nations typically having higher levels of individualism.
Step-by-step explanation:
According to Hofstede, the degree of individualism found in a country is most closely related to the country's wealth. In more economically developed countries, there is a trend towards greater individualism. These countries often have a more even distribution of age demographics and have higher standards of living, which fosters values such as independence, competition, and personal achievement. This stands in contrast to collectivist cultures where community and communal values are more prioritized.
For example, Western nations such as the United States, England, and Australia score high on individualism. There is a notable relation between a country's economic development and its individualistic or collectivist tendencies, with wealthier nations tending to be more individualistic. However, it's important to note that other factors also contribute to a country's economic standard of living, such as geography, demography, industrial structure, and institutions.