The Cost-of-Living Index is a tool that measures the relative cost of living over time or between different locations. It is typically used to compare the expense required to maintain a certain standard of living across various cities or countries.
Poverty is a socio-economic condition where an individual or a group lacks the financial resources and essentials for a minimum standard of living.
A measure of the quality and quantity of goods and services available to individuals and households within an economy, which reflects the overall well-being and comfort level.
Subsistence refers to maintenance without growth, typically in the context of standard of living. It denotes a level of living that is sufficient to keep the economic unit alive and reasonably healthy, but provides nothing more.
