Standard of living and Quality of life

Standard of living: 
It refers to the level of material comfort measured by goods and services available to a specific individual, group or nation.  Some of the factors of Standard of living are income, poverty rate, quality and availability of employment and education, economic and political stability, costs of goods and services, national economic growth etc. With this, factors like the life expectancy the inflation rate, the number of days the workers get for vacation can be measured. It is also used to compare geographic areas as well as distinct points in time.

Examples:
1. Students in Woodstock have a high standard of living. They are provided with a good education system and possess costly valuables. Also, compared to the others that live in Mussoorie, the students have a comfortable lifestyle.
2. Those who are considered as a "millionaire" or "billionaire" have a high standard of living. They own a lot of money and have luxurious lives. They are able to get any goods or services available.
3. The lowest caste in India, the untouchables, have no access to any luxurious or expensive goods and services. They stay in slums and have a very difficult time, having a low standard of living.
4. People who own a business can have either a high or low standard of living. Depending on their income and how much they earn, it can be a profit or loss that decides their standard of living.
5. Employees in Woodstock are difficult in financial terms and they do not enough money to spend for their 'wants'. Hence, we donate and aid them with other products and make their standard of living a bit better.

Quality of life: 
It refers to one's personal satisfaction or dissatisfaction with the cultural or situation under which he or she lives. The factors used to measure Quality of Life are equal protection of law, freedom of movement and thought, free choice of employment, right to vote and human dignity, freedom from slavery and torture etc.

Examples:
1. Woodstock students have many rights and have the right to vote or run for positions and have freedom from torture. Since we get personal satisfaction from everything we get here, students have a high quality of life.
2. Usually those who do not have the occupation that they do not want, they have a low quality of life by having stress, sadness and no joy in their lives. For instance, students who are forced to become an engineer or doctor study so much that they have such a stressful life.
3. Students in Korea, from elementary to High school, are forced to study and get high scores in their tests even if it is to sacrifice one's sleep or meal time. They are stressed throughout their life and Korea has the highest suicidal rate among teenagers in the world.
4. One who has a family who can support him or her and companions that are there to socialize has a good quality of life. With a family and friends, one can be happy and live a joyful life.
5. Those who have not went through extreme hardships such as cancer or any family losses are considered to have good quality of life since they have not got any hardcore stress or their affection have not been hurt.