Question

Which factors do you believe contribute most to Europe's standard of living?

Answer 1

Answer:Trade liberalization is proving beneficial for the European economy and private consumption, in global terms, is increasing thanks to demographic changes (increase in population and number of families) and increased incomes. This extraordinary income is mainly dedicated to tourism, transport and luxury items. The Single Market is fostering economic growth, concentration of industrial activity, urban growth and international trade, which in turn is causing transport to grow faster than economic activity itself.

Most of the countries in transition to a market economy are visibly recovering from the crisis suffered in the early 1990s, with the service and light industry sectors leading the way. Spectacular changes can be expected as the liberalization of agriculture and probably heavy industry deepens. Further industrial growth is also expected.

Explanation: