Why is standard of living important

Standard of living refers to the material basis of well-being, which is reflected in a person's consumption level. Because of this, academics and policy analysts often use real income as a proxy to measure living standard. Standard of living, in turn, is one of the important determinants of well-being or happiness. :)

Exactly, couldn't have said it better myself @above answer.

Ihave no idea. about. that

Answertropical depression;