rheaallison1 rheaallison1

18-05-2024
Business

Answered

What is the definition of standard of living?
the average educational level of people in a country
the average salary earned by workers in a country
the level of employment available in each region of a country
the quantity and quality of goods and services available in a country

Answer :

GinnyAnswer GinnyAnswer

18-05-2024

Final answer:

Standard of living is the level of wealth available for a specific lifestyle, influenced by various factors that impact well-being.

Explanation:

Standard of living refers to the level of wealth available to acquire material goods and comforts to maintain a particular socioeconomic lifestyle. It encompasses factors such as income, employment, literacy rates, mortality rates, poverty rates, and housing affordability. A high standard of living indicates a high quality of life, reflecting citizens' ability to afford necessities and comforts.

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