what do you mean by standard of living
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A standard of living refers to the amount and quality of material goods and services available to a given population. The standard of living includes basic material factors such as income, gross domestic product (GDP), life expectancy, and economic opportunity. The standard of living is closely related to quality of life, which can also include factors such as economic and political stability, political and religious freedom, environmental quality, climate, and safety.
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Explanation:
Noun
The degree of wealth and material comfort available to a person on community.
this is your answer friends.
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