Factors of Economics

The measurement of the use of resources, production of goods and services, and growth over a period of time.

• Resources

• Economics

• Export

• GDP

Any item used in the economic process. "Gifts of Nature" or any manufactured product.

• Services

• Goods

• Resources

• Human Capital

A product used to trade or sell.

• Import

• Export

• Goods

• Scarcity

Any task done in exchange for money or goods.

• Tariff

• Wealth

• Services

• Embargo

Using of Resources

• Wealth

• Consumption

• Quota

• Trade Barrier

Abundance of Resources.

• Wealth

• GDP Per Capita

• Entrepreneurship

• Embargo

All Goods + Services produced within a country / per person.

• Scarcity

• Resources

• Specialization

• GDP Per Capita

All goods + services produced within a country for one year.

• GDP Per Capita

• GDP

• Tariff

• Resources

Goods and Services entering the country

• Economics

• Export

• Import

• Specialization

Goods and Services traded to another country

• Export

• Import

• Balance of Trade

• Quota