Final answer:
Quality of life is measured by including all aspects of well-being: physical, mental, and social, rather than just financial success or physical health alone.
Step-by-step explanation:
Quality of life can be measured by including physical, mental, and social well-being. Financial success or physical health alone does not provide a comprehensive picture of an individual's quality of life. Metrics like the Well-Being Index, which covers areas such as life evaluation, emotional health, physical health, healthy behavior, work environment, and basic access, help provide a fuller picture. Additionally, health metrics and indices often include factors beyond gross domestic product (GDP), acknowledging that a high standard of living involves more than just economic output. It considers aspects ranging from leisure and environmental quality to the broader social structures impacting an individual's or community's well-being.