Question

differentiate the cost of living from the standard of living

Answer 1

standard means effort able and cost of living is things need to be more

Answer 2

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➙ The amount of money that people need to pay for food, clothing and shelter is called “Cost of living”.

➙ Standard of living refers to the quantity of material goods a d services that ensures a comfortable life.

➙ When the cost of living rises, standards of living falls.