What does'an increase in the standard of living of the population' mean?
Answers
Answer:
Standard of living’ refers to the necessaries, comforts and luxuries which a person is accustomed to enjoy.
In other words, standard of living of the people means the quantity and quality of their consumption.
Standard of Living and Standard of Life:
A distinction is sometimes made between standard of living and standard of life. Standard of living , refers to our usual scale of expenditure, the goods we consume and the services we enjoy, our attitudes and values. Standard of life is a much wider term. It refers to one’s ideals in life. It includes a person’s expenditure on his non-material requirements. “Simple living and high thinking” is a common axiom. “Simple living” hints at a low standard of living, but “high thinking” refers to a high standard of life. Mahatma Gandhi had a low standard of living but a high standard of life.
Explanation:
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Answer:
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.