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A Countrys Standard of Living The standard of living of any country means the average persons share of the goods and services the country produces. A countrys standard of living, __________, depends on its capacity to produce wealth. Wealth __________ this sense is not money, for we do not live on money __________ on things that money can buy: goods such as food and clothing, and =services such as transport and entertainment. A countrys capacity to produce wealth depends upon many factors, most of __________ have an effect on one another. Wealth depends __________ a great extent upon a countrys natural resources. Some regions of the world are well supplied with coal and minerals, and have fertile Soil and a favorable climate; other regions possess none of them. Next to natural resources __________ the ability to turn them to use. China is perhaps as well-off __________ the USA in natural resources, but suffered for many years from civil and external wars, and __________ this and other reasons was __________ to develop her resources. Sound and stable political conditions, and __________ from foreign invasions, enable a country to develop its natural resources peacefully and steadily, and to produce more wealth than another country equally well favoured by nature but less well ordered. A countrys standard of living does not only depend upon the wealth that is produced and consumed __________ its own borders, but also upon what is directly produced through international trade. __________, Britains wealth in foodstuffs and other agricultural products would be much less if she had to depend only on __________ grown at home. Trade makes it possible for her surplus manufactured goods to be traded abroad for the agricultural products that would __________ be lacking. A countrys wealth is, therefore, much __________ by its manufacturing capacity, provided that other countries can be found ready to accept its manufactures. | 
