Standard of living
The Standard of living refers to the quality and quantity of goods and services available to people. It is generally measured by real (i.e. inflation adjusted) income per person, although sometimes other measures may be used; examples are access to certain goods (such as number of refrigerators per 1000 people), or measures of health such as life expectancy.
See also
- Gross national product
- Physical quality-of-life index
- Standard of living in the United States
- UN Human Development Index
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