Question

The standard of living is a way to measure level of wealth available to a certain socioeconomic class enabling it to acquire the material necessities and comforts to maintain its lifestyle and is based on_______________

Answer 1

income, employment, class, poverty rates, and housing affordability

Step-by-step explanation:

The standard of living is just a measure of the material welfare of a certain socioeconomic class. This tend to look at how individual live their life in comfort and how they maintain their extravagant lifestyle. It is also used for countries as GDP per capita. There are certain factors considered when measuring the standard of living and they are the poverty rates within the society, class of people living there, employment rates, the income level of people, and how they affordable houses are in the society or area.