AP Macro All Units Review Part 2

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Human Capital

Back

The skills, knowledge, and experience possessed by individuals, which can enhance productivity and innovation in the workforce. Leads to economic growth.

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Physical Capital

Back

The stock of equipment, buildings, and infrastructure that businesses use to produce goods and services. Lead to economic growth.

Front

Technological Innovation

Back

The development and application of new technologies that improve efficiency and productivity in production processes. Leads to economic growth.

Front

Natural Resources

Back

The availability of raw materials and resources that can be utilized in the production of goods and services.

Front

Investment in Research and Development (R&D)

Back

Expenditures aimed at developing new products or processes, which can lead to increased productivity and economic growth.

Front

Trade and Globalization

Back

The expansion of international trade and investment, which can enhance market access and economic efficiency.

Front

Education and Training

Back

Programs designed to improve the skills and knowledge of the workforce, leading to higher productivity.

Front

Population Growth

Back

An increase in the number of people in a country, which can expand the labor force and consumer base.

Front

Medium of Exchange

Back

An instrument that facilitates the sale, purchase, or trade of goods between parties.

Front

Unit of Account

Back

A standard numerical monetary unit of measure that provides a consistent measure of value for goods and services.