The "Cost of Living" refers to the amount of money needed to maintain a certain standard of living in a specific area. This includes expenses such as housing, food, transportation, healthcare, and education. Different regions can have vastly different costs, which can affect people's quality of life and financial stability. Factors influencing the cost of living include local wages, economic conditions, and demand for goods and services. For example, urban areas like New York City or San Francisco typically have higher costs compared to rural areas. Understanding the cost of living is essential for budgeting and making informed decisions about where to live or work.