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1.The “standard of living” of a country means the average person’ s② share of the goods and services which the country produces. A country’ s standard of living， therefore， depends first and foremost on its capacity to produce wealth. “Wealth” in this sense is not money， for we do not live on ② money but on things that money can buy： “goods” such as food and clothing， and “services” such as transport and entertainment.

A country’s capacity to produce wealth depends upon many factors， most of which have an effect on one another. Wealth depends to a great extent upon a country’s natural resources， such as coal， gold， and other minerals， water supply and so on. Some regions of the world are well supplied with coal and minerals， and have a fertile soil and a favorable climate; other regions possess none of them.

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