Economists define standard of living as a subjective measure of how well off an individual or a society is, mainly in terms of want satisfaction through goods and services.

Name: Economists define standard of living as a subjective measure of how well off an individual or a society is, mainly in terms of want satisfaction through goods and services.
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This is the definition of standard of living according to economists. It is subjective and based on the satisfaction of wants through goods and services.

Economists Define Standard of Living as a Subjective Measure of How