standard of living

What does GDP stand for?

• Gross Domestic Product

• Grand Domestic Produce

• Guy Don't Play

• Gravy Donut Pancakes

GDP is the value of all __________ produced in a country in a single year.

• Goods and services

• Babies and College graduates

• Natural Resources

• Goods and Cars

Which is NOT a factor in measuring a nation's Standard of Living?

• GDP

• Healthcare

• Infrastructure

• Music

What is life expectancy?

• average of how long a person lives

• how many babies live to 2

• how wealthy citizens will be

Countries with a high GDP per capita produce what type of goods?

• Agriculture (farming, fishing, raising animals)

• Manufacturing (making clothing, toys, assembling tech, supplies)

• Technology and services (designing tech, machinery, real estate, banking, investing, entertainment)

Which is not an indicator of standard of living?

• Number of people in a country

• Percentage of people in a country that can read and write

• How well an economy works per person

• The average age a person can expect to live to in a country

What are characteristics of a country with a life expectancy of 43 years? There may be more than one correct answer

• Poor infrastructure (roads, communication, sanitation)

• Poverty

• High population over 70

• Poor healthcare infrastructure (hospitals, doctors, medicine, supplies and machinery)

GDP per capita is useful because

• It shows how wealth is spread out around a population

• It gives a basic idea of how strong an economy is

• It tells how a population is growing

• It provides information about health and education

GDP is a bad indicator of standard of living because

• It does not take into account population (countries can have a high GDP but a low GDP per capita because of their population size)

• It shows the type of goods a country produces

• It indicates the amount of in a country

True or False: A diverse economy focuses on producing one product.

• True

• False