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- Factors that determine a standard of living include1234:
- Income
- Physical health
- Quality of the environment
- Housing availability
- Life expectancy
- Personal safety
- Access to education, medical facilities, and social services
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.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…The standard of living is measured by things that are easily quantified, such as income, employment opportunities, cost of goods and services, and poverty. Factors such as life expectancy, the inflation rate, or the number of paid vacation days people receive each year are also included.www.investopedia.com/articles/financial-theory/08/…Standard of living might be evaluated using a number of characteristics including as the quality and availability of employment, real income, disposable income, 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,...
en.wikipedia.org/wiki/Standard_of_livingIn 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… - People also ask
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