COST OF LIVING
What Is the Cost of Living?
The cost of living is the amount of money that you need to cover basic expenses:
The cost of living is often used to compare how expensive it is to live in one city versus another. You can see the comparison in next paragraph.
The cost of living is of course very tied to the wages. If expenses are higher in a certain city or country, the salary must be higher, so that people can afford to live in that city or country.