An economic depression may make people thrifty and cautious, even those who are not particularly badly affected. They will, for example, see others losing their jobs and save rather than spend or invest. If prices fall and continue to fall, this is likely to create an expectation of falling prices. This is likely to lead many to postpone the purchase of non-essential goods and also to postpone investment decisions. Even when the economy picks up, many assumptions created by the depression are likely to linger. Obviously, all these observations are huge generalizations andthere are always exceptions. Joncey
China was severely affected by the Great Depression. The economic status of the country become worse and the general cost of living become unbearable.
Depressin doesn't just hurt the people who are living with it, it also has an effect on the people around them.
Growing international trade and rising standards of living
The society faced economic depression. This became the cause of mental depression. They became materialistic and was no space for emotion. It was the hostile condition and one would not even to think about it.
There will be 3 different aspects to consider for the living standard of the Russian people which are economic, social and politics.
The current economy of the world is either a recession or a depression. Most people who are poor, are poor through no fault of their own. They are just living in a very bad economic conditions and have not been giving the same chances as other people have.
the limitation that effect national income is base standard of living in the country if the country have a good policy of economic definitely the standard of living will be balance
The economic structure determines how the resources in a country are divided up and it has major implications on what kinds of jobs or goods are available. It has a major effect also on the countries standard of living.
in acient Greece a group o fpeople living together with the common purpose of taking care of each other through economic activity was called a ?
With the exception of the depression era of the 1930's (the stock market crash of 1929), our capitalistic system of government has given the citizens of the US a very high standard of living.