7th grade Economics

Front

Knowledge & skills that make it possible for workers to earn a living producing goods or services

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human capital

Front

GDP divided by the total population of the country

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Per Capita GDP

Front

A way of limiting the amount of foreign goods that can come into a country

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quotas

Front

the monetary payment received for goods or services, or from other sources, such as rents or investments

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income

Front

to put $ to use in something offering potential profitable returns, such as interest, income, or appreciation in value

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invest

Front

A trade barrier in which one country announces that it will no longer trade with another country to isolate & cause problems with that country's economy.

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embargo

Front

the ability to borrow money

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credit

Front

the $ that you have not spent after buying things you want

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savings

Front

a tax placed on goods when they are brought into one country from another country

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tariffs

Front

Creative, original thinkers who are willing to take risks to create new businesses & products.

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entrepreneurs