STANDARD LIVING

What is an example standard of living?

• Buy fast food restaurant

• Buy grocery

• Buy new device

• Buy new clothing

What is the definition of standard of living

• To control the supply

• The strands low quality of living

• The living of poor property

• Standard of living generally refers to wealth, comfort, material goods, and necessities of certain areas or more

What is the definition of Industrial and developing economies

• Industrial development helps in the rapid growth of national and per capita income

• For long-lasting monopolies are rare because a profitable monopoly attracts competitors and substitutes

• Are similar to public goods as their own ship is given to public authorities

• That acts as a middleman between two parties in order to facilitate a financial transaction

What is the example of Industrial and developing economies

• Commercial banks, investment, investment banks, mutual fund and pension funds

• A dinner at a restaurant, a grocery shopping, airplane rides, and cellphones

• China, Japan, Germany, South Korea, Indonesia and Poland

• Consider factory workers in a motor vehicle plant. If workers have increased access to machinery and tools to build vehicles they can produce more vehicles in the same amount of time

What is the definition of Education and Economic Development

• A proportionate saving in costs gained by an increased level of production

• Control over natural resources that are critical to the production of a goods

• That acts as a middleman between two parties in order to facilitate a financial transaction

• An important source of productivity is the quality of labor the skill, experience, and education of workers