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Technology improves access to a lot of other goods and services. This increased access leads to a higher standard of what is expected in a home or expected to create a lifestyle.

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10y ago

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Why did roosevelt abandon the gold standard?

Create deflation


What is a fundamental goal of business?

Fundamental Goal of BusinessThe fundamental goal of Business is to create Surplus. This always need not be in terms of Money, but improved customer satisfaction, Goodwill etc. Brahmajyothi


What is the effect of improved farming?

Improved farming techniques enhance crop yields and increase food security by optimizing resource use and minimizing waste. These advancements often lead to better soil health, reduced environmental impact, and increased resilience to climate change. Additionally, they can boost farmers' incomes and create economic opportunities in rural communities. Overall, improved farming contributes to sustainable agricultural practices and supports global efforts to combat hunger.


Why is the gold standard considered bad for modern economies?

The gold standard is considered bad for modern economies because it limits the flexibility of monetary policy, constrains economic growth, and can lead to deflationary pressures. Additionally, it can create instability in the financial system and make it difficult for governments to respond to economic crises effectively.


What conditions does a declining standard of living most likely to create in a country?

The main condition for declining standard of living in a country when it is plagued with recession. During recession, the purchasing power of the ordinary people goes down, leading to declining standard of living. The other reason for declining standard of living may be external debts,adverse balance of payment position example Greece, Spain. Meeting the bare needs to sustain living is not the only parameter, when the common people,after meeting the basic requirements have surplus fund for savings,minimum recreation can be adjudged as civilized standard of living.