The first and most fundamental role of the economy is to make goods and services accessible to the populace. Human beings have inherent needs and wants and the ability to satisfy those needs and wants through financial might is what we would normally term as “standard of living.” While any high school economics teacher will point out that “standard of living” is not necessarily synonymous with “quality of life” - a concept that can bring together many non-economic factors such as happiness or feelings of acceptance with society – it can not be disputed that a person who is.
