The difference between the two concepts concer¬ning life is that .........

I think that the difference between “standard of living” and “quality of life” is that the former refers to material possessions and financial wealth, whereas the latter suggests personal satisfaction and fulfilment that may derive from things that are unrelated to money. For example, a person may be quite poor and may not have many material possessions, but may still be happy with their life because they have good health, peace of mind, a
loving family and friends. I personally don't believe that to have quality of life you need to own an expensive home or car, and to have the luxuries only money can buy.