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- Factors that determine a standard of living include12345:
- Income
- Physical health
- Quality of the environment
- Housing availability
- Life expectancy
- Personal safety
- Access to education
- Access to medical facilities
- Access to social services
- Quality and availability of employment
- Class disparity
- Poverty rate
- Housing affordability
- Hours of work required to purchase necessities
- Gross domestic product (GDP)
- Inflation rate
- Amount of leisure time
- Literacy rates
- Occurrence of diseases
- Infrastructure
- Access to, quality and affordability of public transportation
- National economic growth
- Economic and political stability
- Freedom
- Environmental quality
- Climate and safety.
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.aspIn addition to GDP or GDP per capita, the main factors that are usually used in any calculation of the standard of living are other readily quantifiable economic factors – such as average income, consumer spending, housing prices, the poverty rate in an area, available goods and services, the rate of inflation, and employment levels.corporatefinanceinstitute.com/resources/economic…Factors that determine a standard of living include income, physical health, quality of the environment, housing availability, life expectancy, personal safety, and access to education, medical facilities, and social services.www.encyclopedia.com/social-sciences-and-law/ec…Standard of living might be evaluated using a number of characteristics including as the quality and availability of employment, class disparity, poverty rate, quality and housing affordability, hours of work required to purchase necessities, gross domestic product, inflation rate, amount of leisure time, access to and quality of healthcare, quality and availability of education, literacy rates, life expectancy, occurrence of...
en.wikipedia.org/wiki/Standard_of_livingOther factors commonly associated with the standard of living include:
- Class disparity
- Poverty rate
- Quality and affordability of housing
- Hours of work required to purchase necessities
www.investopedia.com/articles/financial-theory/08/… - People also ask
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