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- Dictionarystandard of living
noun
- 1. the degree of wealth and material comfort available to a person or community.
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noun
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Level of ownership and consumption of goods and services
Standard of living is the level of income, comforts and services available to an individual, community or society. A contributing factor to an individual's quality of life, standard of living is generally concerned with objective metrics outside an individual's personal control, such as economic, societal, political, and environmental matters. Individuals or groups use the standard of living to ev... Wikipedia