Standard of living is defined as the level of wealth, comfort, material goods and necessities available to a certain socioeconomic class in a certain geographic area. And quality of life is defined as the perception of ability to meet daily needs, physical activities, and well-being. In generally, Standard of living is related on the buying power of the household and the owning power of property in the country. So it is always related the income of people and the economic inflation rate. Quality of life is the general well being of a society in term of health care, education, political freedom, a clean natural environment and any that can help to improve one’s satisfaction and happiness. Good in standard of living is always being first; and then we will able to have a high quality of life. A good standard of living had the characteristic of high income, low inflation and low unemployment happen in the country. From the perspective of business, standards of living in the country are important information that shown the level of consumption in the country. This is will bring lots of profit to the business because when the households are paid well, so they will spend more. Beside that’s quality of life are also important to business activity, because when the quality of life is high in the country, they will desire for high quality and more luxury goods and services. Maybe standard of living and quality of life will affect the decision making of a business but business activities is the main factor that affecting and influencing the standard living and quality of life in the country.

The characteristic of a good living standard is about; everyone isn’t lacking of job opportunity and at the same time, they are having a higher and stable income, so they have no worries about the basic needs and wants such as housing, food, cloth and transportation. They also had enough of money to handle their own or family’s living expenses. Even they have extra money to purchase the luxury goods and services. As a high living standard country, they sure have the strong ability to face the inflation; simultaneously it helps to decrease the bankrupt rate of people. In a high standard of living’s country, the government also need to make sure the fortune is separated almost equally to all people, so the people’s economic capacity between each other isn’t be difference too much and prevent the rich is getting richer and poorer is getting poorer.