what does an increase in the standard of living of the population means
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A standard of living generally refers to wealth, comfort, material goods and necessities of certain classes in certain areas—or more objective characteristics, whereas a quality of life is more subjective and intangible, such as personal liberty or environmental quality.
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Standard of living is the material well being of the average person in a given population. ... Standard of living and quality of life are similar in that they utilize some of the same data, but standard of living represents a more physical aspect of life while quality of life represents the more intangible aspects of life.
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