Canada Economics

Measure the price of one nation’s currency in terms of another nation’s currency 

• appreciation 
• depreciation
• exchange rate
• balance of trade

The skills, knowledge, and experience of an individual or population.

• capital goods

• entrepreneurship

• human capital

• GDP

the percentage of people in a country who can read and write

• poverty

• literacy rate

• GDP

• natural resources

the value of ALL goods and services of a country

• GDP

• literacy rate

• human capital

• standard of living

goods that are used in producing other goods

• capital goods

• GDP

• standard of living

• natural resources

minerals, forests, water, and fertile land that occur in nature

• entrepreneurship

• capital goods

• literacy rate

• natural resources

If the GDP of a country is very high, what else is also probably very high?

• poverty

• coal

• standard of living

• literacy rate

This type of economy means that people grow their own food, make their own clothes, and do things like their ancestors did. Usually found in very poor countries.

• Traditional

• Command

• Market

• Mixed

In this type of economy the government makes ALL of the decisions.

• Market

• Mixed

• Traditional

• Command

This type of economy allows for citizens to own businesses, for competition between countries, and gives people the opportunity to choose what they want to buy.

• Traditional

• Mixed

• Market

• Command