A standard of living is the level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or a certain geographic area. The standard of living includes basic material factors such as income, gross domestic product (GDP), life expectancy, and economic opportunity. The standard of living is closely related to quality of life, which can also include factors such as economic and political stability, political and religious freedom, environmental quality, climate, and safety. Standard of living is the material well being of the average person in a given population. It is typically measured using GDP per capita.
Standard of living and quality of life are similar in that they utilize some of the same data, but standard of living represents a more physical aspect of life while quality of life represents the more intangible aspects of life.
One alternative standard of living data set is the HDI, Human Development Index, which uses many factors from life expectancy and education, to GNI, and homicide rates.
Explanation:
i hope this helped lol, i did my best