The standard of having is a measure of the wellbeing of determined by the society or a nation determined by the rang/ level of goods and services consumed including leisure or it is the social economy welfare enjoyed by individual or society.

 It is reflected in terms of the goods and services consumed and the freedom enjoyed. The higher the quantity and services consumed the   higher the welfare.  

The relationship between national income and the standard of living is that national income is an indicator of living standards and living standard of human being depends on the quantity of goods and services they consume.

The higher the quantity of goods and services consumed of variety of goods clothing freedom of device etc the higher is the standard of living

NB: The cost of living is the amount of money needed by an individual to maintain a given level of living standards the cost of living depends on the price level and the consumers income.