Material well-being that someone boasts or aspires to achieve
The Level of Life is known as that degree of material well-being that a certain individual per se, his family and the "world" that surrounds him, or a community, or failing that he hopes to achieve at some point, has achieved..
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 account how close or how far the person is from being poor, how long he must work to maintain his standard of living or simply to meet basic needs.
Now, we must say that high living standards are mostly possible in developed economies as opposed to those in underdeveloped ones.
The standard of living, in addition to being comprised of 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 provided by the government and by the public service.
Quantitative indicators that determine it
There are different quantitative indicators 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 adequate food, 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 economic income that the individual has, which obviously in most of the nations of the world.
Then, in the middle and the upper one, the aforementioned indicators will surely be more than fulfilled, while in the lower one it is not always possible to cover all of them and this includes all those who earn, due to the activity they perform, a minimum salary.
Normally, people consider a good standard of living the effective disposition of material wealth, which is precisely what will allow us to cover needs and access all possible benefits.
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 sharply in the event that the person is fired from their job. This fact will imply that the individual interrupts certain excessive expenses until he regains his economic balance.
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 and noble classes.
On the other hand, we must say that the average standard of living that the inhabitants of a country hold is a faithful reflection of the economic state of that nation. If it is low, that economy must be in trouble, and there will surely be a lot of social inequality, while in cases where the level is high we will be facing an oiled and thriving economy.
