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Standard of living

The financial health of a population, as measured by the quantity of consumption by the members of that population. The measure most frequently used to estimate Standard of living is gross national income per capita. One Drawback to the Standard of living measurement is that it does not take into Account some factors which are important but hard to quantify, such as crime rate or environmental impact.

Related Terms: 10 Account, Cap, Drawback, Factor, FIN, Import, Inc., NVI, Quant, Standard of living
Other Related Pages: Category: Economy Starting With: S
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