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| Photo: Poskhmer.com |
What does the term ‘standard of living’ mean? There were many working definitions around this term. Standard of living refers to the level of well-being (of an individual, group or the population of a country) .if one population or country meet the well-being means that their citizen could live with high income or enough income for expense on food, health, creation activities and others. Furthermore, social is stability with economic and politic condition is good as well. Through this we could say that one country have the well-being or not. And the best way to find the standard of living, it ismeasured by the level of income (for example, GNP per capita) or by the quantity of various goods and services that people consumed (for example, the number of cars per 1,000 people or the number of television sets per capita). In the world, the countries that have the highest income are Singapore, Norway, Switzerland, United States, Japan, Denmark, Sweden, United Kingdom,Finland, Ireland, and Austria. Generally, people living in the developed countries of the world enjoy a higher standard of living than people living in the developing or transition countries.
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