The Degree to Which People Have Access to Goods and Services

question 80

Multiple Choice

The degree to which people have access to goods and services that make their lives easier, healthier, safer, and more enjoyable is called the:

• A)microeconomic standard.
• B)global standard.
• C)scarcity standard.
• D)standard of living.

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Definitions:

Price of Land

The financial value assigned to a piece of land, influenced by its location, size, and use.

Human Capital

The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or society.

Apprentice Welder

An individual in the early stage of their career learning the craft of welding under the supervision of experienced welders.

On-the-Job Training

Training that occurs within the workplace while the employee is performing their actual job duties, often under the supervision of a more experienced colleague.