STANDARD OF LIVING

Standard of living is the closely associated with the quality of living. It is based on the resources, wealth, and comfort that may be accessed by a specific specific socioeconomic class situated in a specific geographic area. The standard of living is measured in numerous factors such as income, life expectancy, climate, poverty rate and a whole lot more. Basically, it is the standard or the basic living in which all the needs of an individual based on his stature and place of living are met.