Cost of living
Definition
Cost of living refers to the amount of money needed to sustain a certain standard or quality of life, including expenses such as housing, food, transportation, healthcare, and taxes.
Related terms
Inflation: The general increase in prices over time which erodes purchasing power.
Disposable income: The amount of money an individual or household has available after paying taxes.
Poverty line: A threshold set by the government to determine if individuals or families are considered to be living in poverty based on their income level.
"Cost of living" appears in:
Subjects (1)
AP Human Geography
Study guides (1)
AP Macroeconomics - 2.4 Price Indices and Inflation
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About Us
About Fiveable
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Privacy Policy
CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Cram Events
Merch Shop
Crisis Text Line
Help Center
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.