Factors of Economic Growth Vocabulary

Front

Raw materials from nature are known as __________.

Back

Natural Resources

Front

Man-made materials such as factories, machines, and technology are referred to as __________.

Back

Capital goods

Front

Skills, education, and training of workforce are collectively termed as __________.

Back

Human Capital

Front

A person who takes a risk and starts a new business is known as __________.

Back

Entrepreneurship

Front

The total value of all goods and services produced by a country in one year is called __________.

Back

Gross Domestic Product

Front

The percentage of adults who can read and write is referred to as __________.

Back

Literacy Rate

Front

The level of wealth and material comfort available is known as __________.

Back

Standard of Living

Front

materials and labor used to create goods and services.

Back

Productive resources

Front

The four main categories of productive resources are

Back

natural resources, human capital, capital goods, and entrepreneurship

Front

Countries with high literacy rates enjoy a higher

Back

standard of living