In terms of economic factors, what would represent a higher standard of living?

B represents a higher standard of living because it focuses on the well-being of individuals in an economy. High real income per person indicates that, on average, people have more income available to spend on goods and services, which directly enhances their quality of life. When real income is high, individuals can afford better housing, healthcare, education, and leisure activities, all of which contribute to a higher standard of living.

Additionally, lower poverty rates imply that fewer people are living in extreme economic hardship, meaning that more individuals can participate in and benefit from economic growth. This combination of high income and reduced poverty creates an environment where the population can lead fulfilling lives and access essential services. Thus, this option highlights the critical aspects of economic well-being and overall quality of life.