Answer to Question #18859 in Microeconomics for Barbara

Question

In what way is your standard of living different from your parents when they were your age?

Answer 1

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.