Economic Growth

Country's total value of goods and services produced in a single year.

• Human Capital

• Capital Goods

• Natural Resources

• Gross Domestic Product

MOST LIKELY if a country has a high literacy rate they will have a

• low standard of living

• high standard of living

• Traditional economy

• standard of living that stays the same

"Gifts of Nature"

• Natural Resources

• Capital Goods

• Physical Goods

• Human Capital

Factories, machines, technologies, and property are all examples of

• human capital

• natural resources

• gross domestic product

• capital goods

A person who starts a business is called a/an

• human capitalist

• entrepreneur

• natural resource operator

• servicer

Measures how well off a people are in a country.

• Literacy Rate

• physical capital

• Standard of Living

• Gross Domestic Capital

Education, training, skills and health are examples of

• capital goods

• human capital

• natural resources

• profit

Measured in the millions, billions and trillions. Determines economic growth.

• Capital Goods

• Natural Resources

• Human Capital

• Gross Domestic Product

A person opens up a new sandwich shop and hires people to work at the restaurant is an example of a/an

• human capital

• entrepreneur

• capital goods

• physical capital

Oil, trees and natural gas are examples of

• human capital

• physical capital

• entrepreneurship

• natural resources