The necessities, comforts, and luxuries that are enjoyed or desired by a family or individuals is called the Standard of living.
<h3>What is standard of living?</h3>
Standard of living refers to the various things that people and families want in order to live a stable and satisfactory life.
These include any necessities, comforts, and luxuries that are either desired or are already being enjoyed by the individual or family.
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Economy:
South America comprises approximately 410 million people living in twelve nations and three territories. It encompasses 6 percent of the world's population.
From the 1930s to 1980s, countries of South America used Import Substitution, an economic policy which replaces foreign businesses as well as imports with domestic production. This was a policy made to produce more development and help grow domestic businesses, which are not competitive with other international industries. However, this policy created a debt crisis in South America.
Politics:
All South American countries are presidential republics with the exceptions of Peru, which is a semi-presidential republic, and Suriname, a parliamentary republic. French Guiana is a French overseas department, while the Falkland Islands and South Georgia and the South Sandwich Islands are British overseas territories. It is currently the only inhabited continent in the world without monarchies; the Empire of Brazil existed during the 19th century and there was an unsuccessful attempt to establish a Kingdom of Araucanía and Patagonia in southern Argentina and Chile. Also in the twentieth century, Suriname was established as a constituent kingdom of the Kingdom of the Netherlands and Guyana retained the British monarch as head of state for 4 years after its independence.
<span>Robert Merton used the term dysfunctions for the harmful consequences of people's actions.
According to Merton, functions (people's actions_ in society can either be functional (positive) or dysfunctional (negative). Here, we are focusing on dysfunctions- harmful consequences of people's actions. Dysfunctions in turn can either be manifest (obvious and expected) or latent (hidden and unintended). A manifest (expected) dysfunction is rowdy behavior at a football game, whereas, a latent (hidden) dysfunction is the effect of urbanization on an endangered bird species.
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