Europe Factors of Production

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Natural resources are important to a country's economy because

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Without them, countries must import (buy) resources they need

Front

All of the factories, machines, technologies, buildings, and property needed by businesses to operate are called

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Capital Goods

Front

The country is investing in what by building infrastructure such as wind turbines and solar panels?

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capital goods

Front

What is the relationship between education and training in a country and the country’s gross domestic product (GDP)?

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Countries with a high level of education and training have a higher gross domestic product.

Front

Which factor of production is described in this list? Skills Talents Education Abilities

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Human Resources

Front

If a country does not invest in its human capital, how can it affect the country's gross domestic product?

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GDP may go down because poorly trained workers will not be able to do their jobs as well.

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Gross Domestic Product
is a measure of the total value of all.....

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The goods and services produced in an economy over a period of time

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A person who comes up with a product or service, and finds the money and time to produce this new product.

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Entrepreneur

Front

Capital goods are

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all of the factories, machines, technologies, buildings, and property needed by businesses to operate

Front

How do countries benefit from having natural resources?

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Countries that have a lot of natural resources are able to use them to produce goods & services at a lower price than those who do not.