Statistical Terms

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Definition	A cost required to sustain a certain level of living
Commentary	Includes an actual cost of living which represents the actual expenditures obtained from actual surveys and a standard cost of living(theoretical cost of living) which is calculated by assuming a certain level of living, in other words, a standard pattern of consumption. Used in determining the level of wages(especially minimum wages) or minimum living cost.
Source	Ministry of Health and Welfare (Measurement of Minimum Cost of Living)