The standard of living for a nation's people depends mainly on:
A)the quality of the natural environment.
B) how much political freedom they have.
C) their income and the prices of the goods and services they buy.
D) the amount of labor and capital available employed in the manufacturing sector.

Question

Quizplus · Accepted Answer

The standard of living for a nation's people depends mainly on their income and the prices of goods and services they buy. Income determines how much individuals have to spend on goods and services, which in turn affects the quality of life. Prices also play a big role, as high prices can lead to decreased accessibility to goods and services, reducing the standard of living. While the other options may have some impact, income and prices are the most significant factors in determining the standard of living.

The Standard of Living for a Nation's People Depends Mainly