ADVERTISEMENTS: Meaning: Standard of living’ refers to the necessaries, comforts and luxuries which a person is accustomed to enjoy. proportion of population over fifteen that can read and write. standard of living the general level of economic prosperity in an economy as measured by, for example, the level of per capita income (GROSS NATIONAL PRODUCT divided by the size of the POPULATION).A country's standard of living will depend on such things as its level of economic maturity, investment and productivity and the provision by the government of various social welfare … standard of living, level of consumption that an individual, group, or nation has achieved. The standard of living on the other hand is a country’s indication of general comfort, necessities, and, … standard of living - translate into Czech with the English-Czech Dictionary - Cambridge Dictionary Find more similar words at wordhippo.com! | Meaning, pronunciation, translations and examples standard of living the general level of economic prosperity in an economy as measured by, for example, the level of per capita income (GROSS NATIONAL PRODUCT divided by the size of the POPULATION).A country's standard of living will depend on such things as its level of economic maturity, investment and productivity and the provision by the government of various social welfare … Though its exact definition remained ambiguous, it most often reflected the middle class and material comfort. Living standard definition is - standard of living. n. pl. Standard of living is the level of comfort, material goods, and other whims available [clarification needed] to a person or group. A standard of living is the level of material comfort, or quality of life, enjoyed by an individual or group. Your standard of living depends on your income and also on the amount of leisure you have. STANDARD, measure. When economists talk about the standard of living, they are referring to the average quantity (and quality) of goods and services that people in a country can afford to consume.Since real GDP measures the quantity of goods and services produced, it is common to use GDP per capita, that is real GDP divided by population, as a measure of economic welfare or standard of living in a nation. Standard of living definition: Your standard of living is the level of comfort and wealth which you have. standard [stan´dard] something established as a measure or model to which other similar things should conform. 12.2.2 From the Household's Disposable Income to the Standard of Living at the Individual Level: The Statistical Approach. The standard of living measures our material welfare. ADVERTISEMENTS: We know that if a person satisfies some wants in a particular manner long enough, they recur and […] It is used to determine the relative prosperity of a demographic group in a country. Coined in 1902, the term "standard of living" grew popular in early twentieth-century America. Infant Mortality Rate. The standard of living refers to the level of wealth, comfort, necessities, and material goods available to a particular geographic area. A popular measurement of standard of living is gross national income per capita. 23. Standard of Living Law and Legal Definition Standard of living is a measurement of material comfort of an individual, group, or nation, as measured by the goods, services, and luxuries available. Definition of standard of living written for English Language Learners from the Merriam-Webster Learner's Dictionary with audio pronunciations, usage examples, and count/noncount noun labels. Literacy Rate. quality of life; quality and quantity of goods and services available to people in a country. The term was not a precise measure of how people lived. standard-of-living | definition: a level of material comfort in terms of goods and services available to someone or some group | synonyms: standard of life, stage, level, degree, point| antonyms: low, mild, high, intense, immoderation Standard of Living. Standard of Living, as the name suggests is the degree to which a particular socio-economic class can avail the wealth, comfort and material items, in a particular area. What he wants is a switch to a market economy in a way which does not reduce people's standard of living. Quality of life is the standard of … The standard of living in the United States is high by the standards that most economists use, and for many decades throughout the 20th century, the United States was recognized as having the highest standard of living in the world. 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