Which is the best explanation for why standard of living only increases through productivity?
A)The more goods that are available,the lower prices will be.
B)More goods are available without having to add resources.
C)Productivity increases the money supply in an economy.
D)Purchasing power increases when there is more consumer choice.
E)Prices are determined by the standard of living.

Question

Quizplus · Accepted Answer

Productivity allows for more goods and services to be produced with the same amount of resources, leading to an increase in the standard of living without needing additional resources.

Which Is the Best Explanation for Why Standard of Living