Understanding the Standard of Living Versus Quality of Living.
Standard of living refers to the level of wealth, comfort, material goods, and necessities available for a specific socioeconomic class or geographic area. Quality of life, on the other hand, is a subjective term that can measure happiness. This article will explain why these two terms are often confused. Moreover, the essay will expound further on the standard of living. Nevertheless, the paper will also explain the quality of life and the factors that could influence it. The subsequent section elaborates further on reasons why the terms in question are often confused.
Consequently, the terms standard of living and quality of life are often confused because there may be some perceived overlap in how they are defined. Knowing the different nuances of each analogy would possibly affect how one evaluates life. In this case, one should keep in mind that the standard of living is a real, quantifiable term that refers to factors available to specific geographic areas or socioeconomic class. In contrast, the quality of life is a subjective term that can measure happiness. Nonetheless, both can be flawed indicators because the factors can vary between people in the same geographical area. The paragraph below expounds further on the standard of living.
Furthermore, the standard of living may serve as a comparison tool used when describing two different geographic areas. Metrics may include wealth levels, comfort, goods, and necessities that are available to people of various socioeconomic classes in the same area. The standard of living is measured by things that are easily quantified, such as income, employment opportunities, cost of goods and service, and poverty. Factors such as life expectancy, the inflation rate, or the number of paid vacation days people receive each year also affect. The subsequent paragraph accounts for the quality of life.
Also, quality of life is more subjective and tangible terms as compared to the standard of living. As such, it can often be hard to quantify. The factors that affect the overall quality of life vary by people’s lifestyles and their personal preferences. Regardless of these factors, this measure plays a vital role in the financial decisions in everyone’s day to day life. Some of the factors that can affect one’s quality of life can include conditions in the workplace, healthcare, education, and material living conditions. The United Nations’ Universal Declaration of Human Rights, adopted in 1948, provides a great list of factors that can evaluate the quality of life.
In summary, the essay has shown why the terms standard of living and quality of life are often confused. Besides, the article has further expounded on the standard of living factors that affect the standard of living in a geographical area. The paper has also accounted for quality of life, described the notable differences between both terms, and, most importantly, stated the factors that could affect the quality of life.
Work Cited
McGregory, S.L.T., and E. B. Goldsmith “Expanding our understanding of quality life, the standard of living and well being ”Journal of family and consumer sciences:2-6