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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]3 years ago
8 0

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.

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