A basic principle of economics is that a country's standard of living depends on its
A)quantity of physical capital.
B)abundance of natural resources.
C)ability to produce goods and services.
D)ability to thrive economically without having to interact with other countries.

Question

Quizplus · Accepted Answer

A country's standard of living is primarily determined by its ability to produce goods and services, which is reflected in its productivity levels.

A Basic Principle of Economics Is That a Country's Standard