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- Basic living standards include1234:
- Adequate income
- Access to basic necessities such as food and shelter
- Good health and life expectancy
- Education and literacy
- Social safety and interaction
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.asp“A standard of living is the level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or a certain geographic area. The standard of living includes basic material factors such as income, gross domestic product (GDP), life expectancy, and economic opportunity.”marketbusinessnews.com/financial-glossary/stand…The three components are:
- Real GDI per Capita, adjusted for the local cost of living (PPP)
- Life expectancy
- Education – levels of literacy
www.economicshelp.org/blog/180/development/me…The standard of living consists of the individuals having the basics such as food, shelter, social safety [clarification needed] and interaction, which all contribute to their wellbeing and what is considered to be a decent living standard.en.wikipedia.org/wiki/Standard_of_living - People also ask
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The standard of living in the United States is high by the standards that most economists use, and for most of the 20th century, the United States was widely recognized as having the highest standard of living in the world. Per capita income is high but also less evenly distributed than in most other developed countries; as a result, the United States fares particularly well in measures of …
Wikipedia · Text under CC-BY-SA license- Estimated Reading Time: 7 mins
Standard of living - Wikipedia
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