Definition of standard of living

Material well-being that someone boasts or aspires to achieve

It is known as Level of Life to that degree of material well-being that a certain individual has achieved per se, his family and the "world" that surrounds it, or a community, or failing that, the well-being that it hopes to achieve at some point.
As we mentioned, mainly, the reference that is taken to determine it is the material comfort level of those involved or under study, the one they have, or also the one they aspire to ever have.

Other considerations that influence the standard of living: access to health, education, quality of employment ...

Basically the standard of living is the possibility that someone has to effectively access to buy goods and services. Now, someone's standard of living can also be appreciated through the quality of employment they have, their possibilities for development, the access they have to education, health, and other types of issues.
It will also take into consideration how close or how far the person is from being poor, the time you must work to maintain his standard of living or simply to meet the needs basic.

Now, we must say that high standards of living are mostly possible in developed economies as opposed to those in underdeveloped ones.

The standard of living, in addition to being comprised of the goods and services that have been acquired individually, is made up of those goods and services that are consumed collectively, as well as those that are supplied by the government and by the service public.

Quantitative indicators that determine it

There are different indicators quantitative that are used as a measure of the mentioned level, to determine it, let's say; among them, the following stand out: life expectancy, access to a feeding adequate, broad confidence in the water supply that is received in the home where you live and the possibility of provision of medical services that guarantee a concrete and satisfactory resolution of the sanitary problems that in some moment afflict.

Of course, this standard of living will depend exclusively on the income economic resources available to the individual, which obviously in most of the nations of the
Then, in the middle and the upper one, the aforementioned indicators, surely, will be more than fulfilled, meanwhile, In the lower one, it is not always possible to cover all of them and this includes all those who win, due to the activity they carry out, a minimum salary.

Normally, people consider a good standard of living the effective disposition of wealth materials that are precisely the ones that will allow to cover needs and access all the benefits possible.
This is having a large inheritance or having significant income, or failing that, having a job that offers significant remuneration.

The standard of living can drop abruptly in the event that the person is fired from her job. This fact will imply that the individual stops certain excessive expenses until he recovers his Balance economic.

It is important that we mention that today it is easier for anyone to achieve a good standard of living than centuries ago when social mobility was practically impossible and the benefits and new standards of living were destined for the aristocratic classes and nobles.

On the other hand, we must say that the average standard of living held by the inhabitants of a country is a true reflection of the economic state of that nation. If it is low, that economy must be in trouble, and surely there will be a lot inequality social, while in cases where the level is high we will be facing an oiled and thriving economy.