Definition, Meaning & Synonyms
standard-of-living
noun
/ˈstændərd əv ˈlɪvɪŋ/
Definition
The level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class in a certain geographic area, usually measured by the amount of goods and services consumed.
Examples
- The standard of living in the city has improved significantly over the past decade.
- Many governments aim to raise the standard of living for their citizens.
- A good education can help improve an individual’s standard of living.
Meaning
It reflects the quality of life and the general well-being of individuals and families. A higher standard of living indicates more access to resources and a better quality of life.
Synonyms
- quality of life
- living conditions
- life standard
