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- Basic living standards can be measured by examining the standard of living1. Factors that can be used to examine the standard of living include (but are not limited to)2:
- Income
- Poverty rates
- Employment
- Social class
- Affordability of commodities (like housing and cars)
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Standard of living focuses on basic material factors such as income, gross domestic product (GDP), life expectancy, and economic opportunity. It is closely related to quality of life, which can also explore factors such as economic and political stability, political and religious freedom, environmental quality, climate, and safety.
www.investopedia.com/terms/s/standard-of-living.aspWhen examining the standard of living, we can turn to factors including (but not limited to):
- income,
- poverty rates,
- employment,
- social class, and
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Standard of Living - USAFacts
The standard of living in the United States is a measure of how well people and families are doing. It looks at things like how much money they make from wages and income, help they get from the government like Medicaid and unemployment insurance, how many people are living in poverty, and how much … See more
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Standard of living is the level of income, comforts and services available, generally applied to a society or location, rather than to an individual. Standard of living is relevant because it is considered to contribute to an individual's quality of life. Standard of living is generally concerned with objective metrics outside an individual's personal control, such as economic, societal, political and environmental matters – such things that an individual might consider when evaluating whe…
Wikipedia · Text under CC-BY-SA license- Estimated Reading Time: 7 mins
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