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

question 56

Multiple Choice

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.

---

Definitions:

Reduction

The act of making something smaller or less in amount, degree, or size.

Marginal Cost

The cost of producing one additional unit of a good or service.

Abating Emissions

The process of reducing the amount of pollutants released into the atmosphere.

Emissions

The act of releasing substances, especially gases or radiation, into the environment as a byproduct of activities like manufacturing or driving.