Standard of living refers to the level to which individuals can satisfy their wants. It may also be seen as the quality of living or the extent of welfare that the people of a country aspire to.

If people can only afford the minimum amount of food, clothing and shelter, their standard of living is said to be low. On the other hand, if they can enjoy a great variety of food, a good supply of quality clothing and live in a well-furnished house and in addition satisfy varieties of their other wants, then their standard of living is said to be high.


FACTORS RESPONSIBLE FOR THE LOW STANDARD OF LIVING IN GHANA

There are several factors accounting for the low standard of living in Ghana. These include the following:
1. Low level of income 
2. Low level of savings
3. High dependency burden
4. Lack of entrepreneurial abilities
5. Negative mentality of people
6. Low level of education


WAYS OF IMPROVING THE STANDARD OF LIVING IN GHANA
  • Education should be made accessible to all
  • Encouraging savings and banking habits of Ghanaians
  • Development of a positive attitudes
  • There should be appropriate national policies
  • The salary structure of workers should be improved