Final answer:
The economic standard of living is influenced by economic policies, access to natural resources, technology and innovation, and social and political institutions.
Step-by-step explanation:
The four major influences on the economic standard of living around the world are varied and complex. While the question seems to refer to Tukey's influences on Data Science (DS), it is important to clarify the context here regarding the economic standard of living. These influences typically include economic policies, access to natural resources, technology and innovation, and social and political institutions. Each of these factors has a significant impact on how wealth and resources are distributed and used within a country, thereby determining the overall economic wellbeing and quality of life for its citizens.
- Economic policies such as taxation, government spending, and regulation can influence income distribution and investment levels.
- Access to natural resources can determine a country's wealth, especially if the resources are in high demand globally.
- Technology and innovation drive productivity and economic growth, leading to a higher standard of living.
- Social and political institutions impact economic stability, enforcement of property rights, and the effectiveness of governance.