Mathematical modeling of life quality assessment of the population of the Republic of Artsakh

Practically, the Standard of Living of people of a country is reflected in the way in which people live, such as how much money they have to spend on, how their houses are constructed, how educated they are, what facilities are available to them, etc. Standard of Living is a measure of comparison which is used to different countries, or regions, on the basis of metrics such as level of comfort, wealth, material possessions and basic necessities, which the residents have access to, in those geographic areas. Real income per person and poverty rate are the two indicators that determine the standard of living. It analyses the quantity of material goods and services produced and sold in a particular region like a state or country. Basically, to measure the standard of living components which can easily be quantified are taken into consideration like income, employment opportunities, poverty, cost of goods and services, life expectancy, infant mortality, rate of inflation, etc. Here it must be noted that: High standard of living results in more demand for comfort and luxury products, whereas a low standard of living less demand for comfort and luxury products. It is based on both the quality and quantity of the available goods and services and how they are distributed among the population. Standard of living implies the availability of the level of welfare to the people of a certain area, indicating the ease by which they can comfortably fulfil their needs.