explain the relationship between standard of living and life expectancy of birth
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Answer:
Standard of living is a comparison tool used when describing two different geographic areas. Metrics may include things like wealth levels, comfort, goods and necessities that are available to people of different socioeconomic classes in those areas. The standard of living is measured by things that are easily quantified, such as income, employment opportunities, cost of goods and services and poverty. Factors such as life expectancy, the inflation rate, or number of paid vacation days people receive each year are also included.
Quality of life is a more subjective and intangible term than standard of living. As such, it can often be hard to quantify. The factors that affect the overall quality of life vary by people's lifestyles and their personal preferences. Regardless of these factors, this measure plays an important part in the financial decisions in everyone's lives.