Milson Andrew J. Standard of Living. U.S.A

National Geographic Learning Cengage Learning, 2014.What is standard of living?
To measure standard of living, economists look at whether people can afford the basics: clean water, food, shelter and clothing. Depending on where they live, some people can barely meet their needs while others enjoy luxuries. Affording the basics depends largely on income, which is the amount of money a person makes in a certain period of time. A age earner in one country might be a high-wage earner in another because cost of living varies from place to place. Cost of living is the amount of money required to maintain a certain standard of living. other factors that determine standard of living include access to education and health care. Level of education influences a person's income. Access to health care affects life expectancy, which is the number of years that a person in a particular group or place can expect to live. People with higher standards of living generally live longer lives.