Unit 5 Review SW Asia's Economic Growth

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What is Diversification?

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means you invest money in different types of investments instead of investing all of your money in just one or two assets.

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Which of the following is a benefit of diversification?

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It reduces the risk of loss by spreading investments across various assets.

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What impact has oil distribution had on Southwest Asian countries?

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Oil distribution has led to economic growth, geopolitical tensions, and social changes in Southwest Asian countries.

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Describe the role of Entrepreneurship?

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Entrepreneurship drives economic growth, creates jobs, and fosters innovation.

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How does literacy rates affect the standard of living in Southwest Asia (Middle East)?

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Higher literacy rates improve the standard of living by enhancing education, job opportunities, and economic productivity.

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What is Human Capital?

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Human capital is the collective skills, knowledge, and experience of individuals that contribute to economic productivity.

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What is GDP per Capita?

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GDP per Capita is the total economic output of a country divided by its population.

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What is literacy rate?

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The literacy rate is a measure of the ability to read and write in a population.

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A country's GDP is the total dollar value of all __________ and __________ produced in one year.

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goods services

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What is Productive Resources?

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Materials and labor used to create goods and services