What is a standard of living

level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or a certain geographic area.

health care

income growth inequality

Gross domestic product (GDP)

educational standards

Life expectancy

Economic opportunity

living is GDP per capita. This is a nation's gross domestic product divided by its population. The GDP is the total output of goods and services produced in a year by everyone within the country's borders.

That includes critical components like in-home child or elder care, volunteer activities, and housework. Many activities that are included in GDP couldn't occur if there weren't these support activities.

Second, it doesn't measure pollution, safety, and health. The government may encourage an industry that spews chemicals as part of its manufacturing process. The elected officials only see the jobs created. The cost may not come to roost until decades later.

Third, the GDP per capita measurement assumes that production, and its rewards, are divided equally among everyone. It ignores income inequality. It can report a high standard of living for a country where only a few enjoy it.

That's gross national product per person. It measures the level of income paid to all the country's citizens, no matter where they are in the world. GNP per capita can raise a country’s standard of living. That’s because many citizens live in other countries to get better jobs.

following four data points:

School enrollment

Life expectancy at birth

Adult literacy

Gross national income per capita

such as the standard of living in the United States versus Canada, or the standard of living in St. Louis versus New York. The standard of living can also be used to compare distinct points in time.

per capita GDP) are often used to define the differences between more and less developed countries.

Standards of living are usually higher in developed countries such as the United States, than in less developed nations.

living is the United Nations' Human Development Index (HDI), which scores 189 countries based on factors including life expectancy at birth, education, and income per capita.

(0.944)
Australia (0.939)
Ireland (0.938)
Germany (0.936)

The countries with the five lowest 2018 HDI scores

Niger (0.354)
Central African Republic (0.367), South Sudan (0.388)
Chad (0.404) and Burundi (0.417), Syria, Libya, and Yemen

and quality of life are often believed to mean the same. While they may overlap, there is a difference between the two.

Quality of life is more subjective, such as personal liberty or environmental quality. Characteristics that make up a good quality of life for one person may not necessarily be the same for someone else.

A standard of living generally refers to wealth, comfort, material goods and necessities of certain classes in certain area.

freedom, and satisfaction. These are part of the quality of life. Indices that attempt to measure quality of life also include the material standard of living measurement.