Answer to Question #138059 in Microeconomics for karen

Question

In what ways is your standard of living different from that of your parents or
grandparents when they were your age

Answer 1

a) Infrastructure - In our time we have much more developed roads and electricity as compared to the times of our grandparents where there used to be no electricity and well developed roads.

b) Mode of transport - There is much more use of vehicles and aeroplanes in our time.

c) Technology advancement - There is introducing of machineries, mobile phones, computers which were not common during our parents' time