Living Standards

Question 1

Living Standards Definition

Answer 1

Living Standards refers to the material and non-material well being of an average person in a population.

(if there are no other questions of living standards, you can expand on the definitions of material / non-material)

Question 2

Material Living Standards

Answer 2

This refers to the access of an average person in a given population to goods and services. Measured by the amount of G+S that our income allows us to purchase (purchasing power)

Example: Access to cars / other tangible goods

Question 3

Non-Material Living Standards

Answer 3

This refers to quality of life factors that are irrespective of income. That affect the average person in a population.

Example: crime rates, public health facilities, pollution, stress levels.