Latin America Economics Test

What is one tool governments use to measure the strength of their economy?

• GDP

• GDD

• GED

• GPD

System of exchange where one good or service is given in return for another. Money is not used.

• wage

• subsistence

• entrepreneurship

• bartering

items found on earth

• natural resources

• human capital

• capital goods

• physical capital

knowledge, skills, and relative health of a nation's labor force

• capital goods

• human capital

• natural resources

• physical goods

economy that is owned and operated by private citizens

• producer

• public sector

• private sector

• government sector

part of the economy that is owned and operated by the national government

• producer

• public sector

• private sector

coal, oil, water are examples of which term below?

• human capital

• capital goods

• natural resources

A new machine that helps speed up production is an example of which term below?

• human capital

• capital goods

• entrepreneur

If a company sends employees to get training on a new machine, this would be an example of what term below?

• human capital

• capital goods

Bob decides to create a new brand of widgets. He decides to get a loan from the bank and start his business. What is this an example of?

• human capital

• capital goods

• entrepreneur