Vocabulary Factors of Economic Growth

Entrepreneur

• the total dollar value of all goods and services produced by a country in one year

• someone who takes risks to start a new business

• someone who makes things

• the percentage of adults who can read and write

Service

• a physical object that is sold to make money

• the system of how money is made and used within a particular country or region

• the materials and labor used to create goods and services

• an activity offered as a product that is sold to make money

Capital Goods

• the materials and labor used to create goods and services

• includes the skills and knowledge of its people that support the economy

• the total dollar value of all goods and services produced by a country in one year

• the man-made materials that are needed to produce goods and services

Productive Resources

• the materials and labor used to create goods and services

• the percentage of adults who can read and write

• a good means to send it to another country to be sold

• to bring in a good from another country to sell

Consumer

• someone who takes risks to start a new business

• (per person) the total amount of money made by a country, divided by its number of citizens

• someone who makes things

• someone who buys things

Natural Resources

• the total dollar value of all goods and services produced by a country in one year

• the materials that come from nature, such as land, forests, minerals, water, etc.

• a physical object that is sold to make money

• the man-made materials that are needed to produce goods and services

Producer

• the materials and labor used to create goods and services

• someone who takes risks to start a new business

• to bring in a good from another country to sell

• someone who makes things

Economy

• the materials that come from nature, such as land, forests, minerals, water, etc.

• (per person) the total amount of money made by a country, divided by its number of citizens

• the system of how money is made and used within a particular country or region

• the total dollar value of all goods and services produced by a country in one year

Literacy Rate

• the percentage of adults who can read and write

• someone who buys things

• the man-made materials that are needed to produce goods and services

• an activity offered as a product that is sold to make money

Export

• the materials that come from nature, such as land, forests, minerals, water, etc.

• a physical object that is sold to make money

• a good means to send it to another country to be sold

• to bring in a good from another country to sell