Standard of living

Standard of living usually refers to the economic level of an individual, family, or nation. People can measure it by the value of the goods and services produced or used by the individual, family, or nation in a period of time.

Article 25 of the Universal Declaration of Human Rights affirms a good standard of living as a human right with enough food, clothing, housing, social security and aid when having difficult situation, such as joblessness, illness, disability, losing one's partner, and being old. Article 11 of the International Covenant on Economic, Social and Cultural Rights affirms this as well.