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Per NCERT, what does the term 'standard of living' typically mean — as used in the chapter?
AOnly the food eaten
BThe level of material comfort, services, and quality of life that a person or household has — including income, housing, healthcare, education access
COnly annual income
DOnly the size of the house
Answer & Solution
Correct answer: B. The level of material comfort, services, and quality of life that a person or household has — including income, housing, healthcare, education access
Per NCERT, standard of living captures multidimensional quality of life. The other options reduce it to one component.
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