From a resource standpoint, the important point of this comparison is that including the marginal external costs of production and allocating resources based on the full social cost results in a higher price for the good (Ps > Pp) and less output (Os < Op) than only including the private costs.
Today, the nation's farmers are 17 years older than the average American worker, with the ranks of farmers who are 75 years and up outnumbering those in their prime working years of 35 to 44. One big reason U.S. farmers are going gray: spiraling costs.
The average British man is 38, will live another 41 years and is educated at least to A-levels. The figures - released to mark next week's UN World Statistics Day - show the average British woman is two years older and will live to 82. The ONS's Jil Matheson said stats form the backbone of democratic debate.