Standard of living
volume
living standard

Definition & Meaning of "standard of living"

standard of living
01

the level of wealth, welfare, comfort, and necessities available to an individual, group, country, etc.

Wiki
example
Example
Economic policies that promote job creation and income growth can positively impact the standard of living for citizens.
The family struggled to maintain a minimal standard of living on their limited income.
Technological advancements have led to an increase in the standard of living, providing easier access to information and communication.
Many people seek job opportunities abroad to achieve a higher standard of living for their families.
Many families in this country are still behind the eight ball and do not enjoy the same standard of living that other people enjoy.
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