Question

b) What does ‘Standard of Living’ refer to?

Answer 1

Answer:

Standard of living refers to the level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area. Quality of life, on the other hand, is a subjective term that can measure happiness.

Explanation:

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Answer 2

Explanation:

Standard of living is the material well being of the average in the given population..