I think that it is important to know about the standards of living because it helps determine/classify countries by the standards of living. GDP per capita, countries can be ranked by who has the most amount of money to who doesn’t even have a high standard. Population below the poverty line can define countries as to how much of their population is living in poverty. Life expectancy can show how many years the people in the country can most likely live up to. Infant mortality rate can show how much/good of a health standard they have. Doctors per 1000 people can show how many doctors there are among the population/people. Literacy rate can rank the amount of people in the country over age 15 already know how to read and write. And HDI can rank people from who can do better Human Developed index
Economic concepts and Standard of living can be analyzed using the 5 themes of geography because for example on of the 5 themes of geography is movement and on of the economic concepts is infrastructure and infrastructure is how easily people can get from one place to another and place is what it is like in an area. Economic systems and many of the standards of living can be analyzed using Place because Place is what it is like in an area and all the standards of livings have to do with what it is like in that place/country.
By Ski67dOO (Using microsoft excel) [GFDL (http://www.gnu.org/copyleft/fdl.html) or CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons
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