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Consumption and Standard of Living

Author

Listed:
  • Cecilia Elena VADUVA

    (Constantin Brancusi University of Tg Jiu, Romania)

Abstract

Living standards are an indicator mainly economic which can be defined as quantitative aspect of meeting the economic needs of an individual or a community and aims the way how the activity of material and nonmaterial production relates and contributes to meeting the main necessities of life society income. The finality of any kind of economic activity it is the creation of material and spiritual goods which consumed is to increase living standards. Life quality should not be confused with the living standards. Life quality materializes an economic complex process, social and political capture both the premises and the process by which objective and subjective conditions of existence become accessible and positive for humans, living standards target only a sequence of this circuit which represents the only link between the level and quality conditions of social life and the last resultant effect form of living a certain lifestyle. The finality of any kind of economic activity is the creation of material and spiritual goods which consumed lead to the increase living standards. Purchasing power is found in the notions living standards and quality of life

Suggested Citation

  • Cecilia Elena VADUVA, 2016. "Consumption and Standard of Living," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 2, pages 41-45.
    • Handle: RePEc:ddj:fseeai:y:2016:i:2:p:41-45
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