Standard of Living vs Quality of Life
Standard of living measurements tend to be focused on economic factors such as income, wealth, poverty rate and affordability of housing or a standard basket of goods. They may also include measurable aspects of lifestyle, community life, health, freedom, climate and safety.Quality of life measurements are more likely to be restricted to a handful of factors such as life expectancy and income. The happiness aspect of quality of life is typically handled with self-reported happiness ratings.Although standard of living and quality of life are related, in practice they tend to differ widely in their ranking of nations or cities. Standard of living rankings tend to use a large number of factors to try to estimate how happy people are in a particular group. Quality of life directly asks people if they are happy. The later can be more accurate in situations where a single factor is making people unhappy. For example, a city with high pay may be unhappy if it has extremely poor air quality.| Standard Of Living vs Quality Of Life | ||
Standard Of Living | Quality Of Life | |
Definition | The degree of wealth and material comfort of an identifiable group of people. | The level of health, comfort, opportunity and happiness of an identifiable group of people. |
