Standard of Living Measure
A Standard of Living Measure is a standard of wealth, comfort, material goods and necessities available to a certain socioeconomic class in a certain geographic area.
- Example(s):
- Counter-Example(s):
- See: Cost of Living, Living Income, Poverty Rate, Human Development Index, Work Hours.
References
2014
- (Wikipedia, 2014) ⇒ http://en.wikipedia.org/wiki/standard_of_living Retrieved:2014-10-25.
- Standard of living refers to the level of wealth, comfort, material goods and necessities available to a certain socioeconomic class in a certain geographic area.
The standard of living includes factors such as income, quality and availability of employment, class disparity, poverty rate, quality and affordability of housing, hours of work required to purchase necessities, gross domestic product, inflation rate, number of holiday days per year, affordable (or free) access to quality healthcare, quality and availability of education, life expectancy, incidence of disease, cost of goods and services, infrastructure, national economic growth, economic and political stability, political and religious freedom, environmental quality, climate and safety. The standard of living is closely related to quality of life. In 2012, the Human Development Index ranked the top six countries for quality of living as: Norway, Australia, United States, Netherlands, Germany and New Zealand.
- Standard of living refers to the level of wealth, comfort, material goods and necessities available to a certain socioeconomic class in a certain geographic area.