standard of living


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standard of living

the general level of economic prosperity in an economy as measured by, for example, the level of per capita income (GROSS NATIONAL PRODUCT divided by the size of the POPULATION). A country's standard of living will depend on such things as its level of economic maturity, investment and productivity and the provision by the government of various social welfare programmes. Advanced industrial countries like Japan (income per head $33,990 in 2003) and the UK (income per head $24,230 in 2003) are much more prosperous than developing countries such as the Upper Volta, Chad etc. (whose levels of income per head are less than $500).

standard of living

the monetary and nonmonetary elements that together make up a person's lifestyle. INCOME PER HEAD is used as a proxy for standard of living, although the PERSONAL DISTRIBUTION OF INCOME will mean that many people's incomes will differ from the average income. Another difficulty lies in assessing those benefits and costs that may improve a person's lifestyle but have no immediately attributable economic value. For example, two people may have identical salaries, but one may live in the country and have splendid scenery peace and quiet, no traffic jams when driving to work and little pollution, while the other may live in an industrial city that has considerable traffic jams, pollution, noise and crime. Monetary comparisons would suggest a similar standard of living, but this may not be the case. See ECONOMIC DEVELOPMENT.
References in periodicals archive ?
About 30years ago, I decided to change my own standard of living. I made up my mind to develop the required capacity to produce excellence-driven services and high-valued goods.
The top 10 large MSAs with the highest standard of living include three on the West Coast (San Jose, San Francisco and Seattle), three on the East Coast (Boston, Hartford and Washington) and four in the middle of the country (St.
This suggests that respondents think about their country's future development and the general direction their country is moving in when they are asked about "today's children." When asked about their own personal standard of living, they take into account a multitude of current individual factors, and economic conditions do not play as central a role.
Standard of living = Demography x Employment x Productivity x Terms of trade.
There appears a direct relationship between the prevalence of contraception and standard of living of the household and schooling of women and their husbands.
The standard of living went up as soon as work started.
Arab NewsA latest survey, conducted by the Indian government, reveals that standard of living of the Indian Muslims is the lowest as compared to members of other communities.
Summary: The Emirates Center for Strategic Studies and Research (ECSSR) has said that the policies, plans and strategies of the United Arab Emirates under the leadership of President His Highness Shaikh Khalifa bin Zayed Al Nahyan, focused on the citizen, making his welfare, progress and raising his standard of living, its main objective at the stage of empowerment.
I'd like to ask a question: How can we keep the standard of living of an average American higher than the standard of living of an average Chinese?
It is noted that the population of Kyrgyzstan is relatively satisfied with the standard of living, life expectancy in the country is at the middle level and the position of the country in terms of environmental welfare is at high level.
H&H Investment and Development has announced the completion of three labour camp developments in Jebel Ali that aim to provide a higher standard of living to the country's labour workforce.
Israel's standard of living now is two-thirds as high as the United States, Bank of Israel Governor Stanley Fischer said Sunday, a far cry from the material standard of only a few years ago.

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