Factors of Economic Growth -- Latin America

How many factors of production are there?

• 20

• 11

• 4

• 2

What are the factors of production?

• Natural Resources

• Human Capital

• Capital Goods

• Entrepreneurship

• All of the above

The presence or absence of these factors determine the country's GDP for the year

• False

• True

The total value of all the goods and services produced in a country in one year is...?

• GAP

• GSP

• GDP

• GOP

Which is NOT an example of a natural resource?

• Land

• Sun

• Broccoli

• Minerals

Why is a country better off if they can use their own natural resources?

• just to have

• for trade

• to seem rich to other countries

• to buy from other countries

What is NOT an example of human capital?

• YouTube channel skills

• reading skills

• math skills

• musical abilities

A country's Literacy rate impacts Human Capital. At what age does your personal literacy rate start to get counted into the country's literacy rate?

• 18

• 17

• 16

• 15

Nations that invest in the health, education, & training of their people will have a more valuable workforce that produces more goods & services.

• True

• False

People that have training are more likely to contribute to technological advances, which leads to finding better uses of natural resources & producing more goods.

• False

• True