Definition, Meaning & Synonyms

living standard

noun

/ˈlɪv.ɪŋ ˈstænd.ɚd/

Definition

The level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area.

Examples

The living standard in urban areas is often higher than in rural regions.
Many governments aim to improve the living standard of their citizens.
Access to quality healthcare is a significant factor in determining living standards.

Meaning

Living standards refer to the quality of life that individuals or groups enjoy in terms of their access to goods and services, financial resources, and overall well-being.