Define standard of living and summarize in your own words the relationship between standard of living, cost of living, and stage

Question

Klio2033 [76]

3 years ago

9

Define standard of living and summarize in your own words the relationship between standard of living, cost of living, and stage

of life.

Mathematics

1 answer:

svetlana [45] · Answer 1 · 2022-06-02T10:52:55+03:00

Standard of living refers to the level of wealth, comfort, material goods and necessities available to a certain socioeconomic class or geographic area. Cost of living is the amount of money needed to cover basic expenses such as housing, food, taxes, and healthcare in a certain place and time period. Stage of life refers to the different phases of life that all individuals pass through in a normal lifetime.