GDP Quizizz Homework

What is GDP?

• Gross Domestic Product

• Grand Domestic Product

• Gross Domestic Produce

• Gross Dominating Product

What does domestic mean?

• Produced within the borders of a country

• Produced outside the borders of a country

• Bought from another country

• Purchased from a bordering country

the study of how nations spend money, make money, make things and save money.

• Labor

• Capital

• Supply and Demand

• Economics

The knowledge and skills (education) that allow workers to produce goods and services and earn a salary.

• Entrepreneurship

• Human Capital/Labor

• Capital Goods/Physical Capital

• Natural Resources

Goods such as factories, machines, and tools that workers use to make other goods.

• Entrepreneurship

• Human Capital/Labor

• Capital Goods/Physical Capital

• Natural Resources

Raw materials used to support life and make goods

• Entrepreneurship

• Human Capital/Labor

• Capital Goods/Physical Capital

• Natural Resources

People who take a risk to start their own business.

• Entrepreneurship

• Human Capital/Labor

• Capital Goods/Physical Capital

• Natural Resources

The total value of all goods and services produced in a country every year.

• Imports

• Exports

• Gross Domestic Product (GDP)

• Literacy Rate

A person’s level of comfort.

• Voluntary Trade

• Scarcity

• Specialization

• Standard of Living

Factories, machinery, and technology

• Capital goods

• Entrepreneurship

• Human capital

• Natural resources