Answer to Question #18859 in Microeconomics for Barbara
In what way is your standard of living different from your parents when they were your age?
Firstly, we should admit that our standard of living determined by technological progress and development in every spheres of life. Great soaring in technologies and development of industry led to increasing in standard of living. Moreover activities of world organization promote of its increasing. That's why we have higher standard of living then our parents.