Standard of living

Standard Of Living
Related Category: Economics: Terms and Concepts
level of consumption that an individual, group, or nation has achieved.

What does 'standard of living' mean? Economic historians would like it to mean happiness. But the impossibility of measuring happiness forces them to equate the standard of living with monetary measures such as real wages or real income.

Standard of living
The overall degree of comfort of an individual, household, or population, as measured by the amount of goods and services its members consume.

Standard of living. The level of well-being (of an individual, group or the population of a country) as measured by the level of income (for example, GNP per capita) or by the quantity of various goods and services consumed (for example, ...

STANDARD OF LIVING: In principle, an economy's ability to produce the goods and services that consumers use to satisfy their wants and needs.

standard of living
Disposable Earnings (legal term)
Credit Counseling (in banking)
Sady Courville (Cajun Artist)
Walter Philip Reuther
Equality and Insurance Rates
Flexible Benefit Plans
Flexible Spending Account (FSA)
Albert Shanker ...

Standard of living
Usually refers to a country's per capita income, but sometimes takes account also of additional conditions that matter for a person's or household's wellbeing, such as leisure or the quality of the environment.

Due to the higher standard of living today, a secondary source of income is no longer a choice but a must. In the past, families used to only have one sole breadwinner who is normally the father of the house.

income replacement ratio The percentage of income that an individual who is working will need to maintain the same standard of living during each year of retirement.

the economic policies of member states, to promote throughout the community a harmonious development of economic activities, a continuous and balanced expansion, an increase in stability, an accelerated raising of the standard of living and closer ...

Malthus and many others (even Karl Marx) laid great stress on the importance to economic growth of such culturally conditioned values or attitudes as thrift, the value of diligence and hard work, ambition for a better material standard of living, ...

As the case progresses, you will be able to determine if the income reported on the return(s) is commensurate with the individual's standard of living.
Review the tax return to determine if the scrap income is reported separately on the tax return.

Productivity gains lead to improvements in the standard of living, because as labour, capital, etc. produce more, they generate greater income.
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Total Foreign Exchange Earnings ...

Standard of Living-Maslow's basic needs satisfied such as food, water, clothing, shelter, and nice-to-have discretionary items, such as automobiles, vacations, entertainment.

A lot of commentators used to decry the low Canadian dollar claiming that every drop was a decrease in our standard of living. If that were true then we all got a huge raise in our standard of living this year as our dollar soared to 77 cents.

The GDP of an economy is often used as an indicator of the wealth of an economy, and economic growth is therefore often seen as indicating an increase in wealth or standard of living.

However, Americans still wanted to retain their standard of living. During the housing boom, they used their home equity like an ATM. They also ran up credit card debt.

Basically, the state expects the parents to be able to come to an agreement that is equitable to the children and that does not affect their accustomed standard of living. That may not be reality, but the state will always put the children first.

So, before purchasing a life insurance policy, you should consider your financial situation and the standard of living you want to maintain for your dependents or survivors.

Pension and Social Security benefits will not be adequate for people who expect to maintain their standard of living after retiring.

A country with a high standard of living, a well-run stock market, and (mostly) free trade.
Developed markets include most of Western Europe, Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, and the United States.
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The modern China is prospering and booming in its economy and the standard of living in China has been raised tremendously.

Productivity Gains: Key to real improvements in our standard of living, because as our labor, capital, etc. produce more, there is more to consume.

It is a major cause of concern if an employee suddenly has a jump in his or her standard of living with no extra income to explain it. There may be a sudden drop in company profits, or the company's financial records may become very disorganized.

Standard of living - A minimum of necessities, comforts, or luxuries held essential to maintaining a person or group in customary or proper status or circumstances.

Key to real improvements in our standard of living, because as our labor, capital, etc. Produce more, there is more to consume.
Profit Margin. Determined by dividing Net Income by net sales and is expressed as a percentage.

Low-income Developing Countries - Countries with a low standard of living such that many people cannot meet even their basic needs. These include some of the most populous countries in the world covering approximately 3 billion people.

Its aim is "to achieve the highest sustainable economic growth and employment and a rising standard of living in member countries while maintaining financial stability and thus contribute to the world economy".

How To Use Gross National Product As An Indicator
Standard Of Living Vs. Quality Of Life
What is GDP and why is it so important?
Economic Indicators: Gross Domestic Product (GDP) ...

cost-of-living index: A cost-of-living price index measures the changing cost of a constant standard of living. The index is a scalar measure for each time period.

Nest Egg
Assets reserved for a person's retirement. A nest egg is accumulated to assure the retiree with a secure standard of living for the rest of their life. IRAs are considered part of a nest egg.
See: Asset; IRA ...

Within the European Union, Denmark advocates a liberal trade policy. Its standard of living is among the highest in the world, and the Danes devote about 0.8% of gross national product (GNP) to foreign aid ...

It is the rise in the value of property because of fluctuations in market conditions and other causes like inflation, costs and standard of living.
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If inflation averages more than 3 percent, then the investor's real income will fall; that is, it will not be sufficient to provide the same standard of living.

In order to upgrade the standard of living in a country, major changes in infrastructure, communication, roads, industries, employment opportunities etc. are needed, and for all these to happen, financing is required.

Some use it to measure the productivity of the country, in that it shows how much product was produced and sold. Others use it to measure the general health of the economy and the standard of living of those living in it.

He has said he would prefer to live in a free country, even if it did not provide a higher standard of living, than a country run by an alternative regime.

Many elderly people find themselves 'house rich but income poor' when they approach retirement. In other words, they have the bulk of their wealth tied up in their home when what they really need is an income to boost their standard of living in ...

the European community stabilise market prices for farm goods through intervention e.g. buying up wheat if the price falls below the minimum allowed. The aim of the scheme is to increase agricultural productivity and ensure a fair standard of living ...

cashflow, it means that it has cash available to invest in the business and pay dividends. If it has negative cashflow, it needs to borrow money to keep the business going - a bit like running up an overdraft to maintain your standard of living.

term for a significant emigration of educated or talented individuals. A brain drain can result from turmoil within a nation, from there being better professional opportunities in other countries or from people seeking a better standard of living.

The amount of output per worker used as a measure of efficiency with which people and capital are combined in the output of the economy. Productivity gains lead to improvements in the standard of living, because as labour, capital, etc.

from a disability insurance policy will vary according to the coverage selected, as will the definition of disability; policyholders usually aim to receive enough benefits from their disability insurance to let them continue their standard of living ...

The explanation of the relatively low prices (in sterling) of German commodities at this time was presumably to be found in the higher productivity of the German workman and his lower standard of living, ...

standard of living The financial health of a population, as measured by the quantity of consumption by the members of that population. standard payment calculation The monthly payment required to repay the remaining balance of a mortgage in..

See also: Saving, Expense, Banks, Population, Job