The high cost of living can also be as a result of the Hurricane Katrina which lead to the increase in the gas prices which basically affected the common business. It's particularly useful when traveling internationally to compare international locations because a comparison compensates for 2. Boston has just been used as an example where the cost of living is high. This high cost of living actually does not surprise the people living in the area but it surprises those people relocating.As a result many of the organizations located in this particular region are now opting for a relocation to another place where the cost of living is fairly cheap. The Bureau of Economic Analysis (BEA) breaks up necessary expenses into nine groups—apparel, education, food, housing, medical, recreation, transportation, and other goods and services.

There will always be movement of employees from organizations located in the areas where the cost of living is high to other organizations located in places where the cost of living is relatively low. cost of living definition: 1. the amount of money that a person needs to live: 2. the amount of money that a person needs to…. The changes that often occur in the cost of living are normally operationalized by what is termed as the cost of living index.

By clicking “Write my paper”, you agree to our For example, your fuel expenses would be higher if you live in New York than it would if you live in Mississippi. For example, one gallon of milk might not cost much compared to one dress. So the price for each item is weighted to account for its importance to a typical family's budget. There are necessary items and services an average person needs so that they can maintain an average lifestyle. The cost of living not only in Boston but also in other places highly determines the continuity of a certain business in an organization. Because if it does not ensure its proper location the organization will stand higher chances of not doing well in terms of business. Most cost-of-living calculators give you a direct dollar-for-dollar comparison between your location and another. By clicking “Write my paper”, you agree to our The cost of living in your area would be the index of the comparison. By continuing we’ll assume you’re on board with our             The cost of living can be defined as that cost used in maintaining a particular standard of living. cost of living in American English the average cost of the necessities of life, such as food, shelter, clothes and medical expenses Webster’s New World College Dictionary, 4th Edition. But over a year, food would cost more than clothing. They then take into account how much of a person's budget would be consumed by the item in a year.

Commentary: Total living cost per month is approximately $1.100 per month, or 13.200 per year. The EIU's index is the most thoroughly researched, but some reports are expensive.

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