Question

what is economy material standard of living ?​

Answer 1

Answer:

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.

Answer 2

Answer:

It is basically a metric that evaluates the amount of material goods that are produced and sold within a specified geographic area – such as a community, province, state, or country. Two of the most commonly used indicators of standard of living in a country are the gross domestic product (GDP)