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social science subjects > economics > macroeconomics > economic conditions > cost of living
... > contexts > population characteristics > socioeconomic factors > poverty > economics of poverty > cost of living

Preferred term

cost of living  

Definition

  • COST OF LIVING refers to the income required to maintain a certain standard of living. Many poverty statistics, such as the headcount index, rely on per capita or household income as a primary measure of wellbeing. [Source: Encyclopedia of World Poverty; Cost of Living]

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URI

https://concepts.sagepub.com/social-science/concept/cost_of_living

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