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WorksheetsEconomic growth
Total questions: 16
Worksheet time: 8mins
What does Gross Domestic Product
mean?
The total value of all goods and services a country imports.
The total value of all goods and services a country exports.
The total value of all goods and services produced within a country in one year.
The net loss in profits within a country due to imports.
The___________ a country’s GDP, the better the country’s standard of living.
lower
greater
smaller
answers 1 and 3 are correct
What are the 4 factors that lead to a country’s economic growth?
investment in human capital, investment in physical capital, land (natural resources), entrepreneurship
good international relations, a democratic president, strict laws, freedom of press
a powerful military, strong dictatorial leadership, communist regime, little personal freedom
a monarchy, the World Bank, a parliamentary democracy, personal freedom
What are natural resources?
resources that are gone from nature
resources that are manufactured for the environment
resources that are considered worthless
materials or substances that occur in nature and can be used for economic gain.
What does human capital mean?
the place where the most people live within a country
the place where the most work is performed within a country
the people who perform labor (work)
the building where most people work in a country or state
What are capital goods?
goods that are produced in the capital
the factories, machinery, and technology used to produce goods and services
goods that are produced without natural resources
goods that are produced by the government
What do entrepreneurs do?
represent business at the capital
make all the laws in regards to business
start their own business, invent something new, or change the way something was previously done so that it works better
work in politics with regards to foreign business
How does entrepreneurship influence economic growth?
it creates jobs and reduces unemployment
it encourages people to take risks,and in doing so, create better materials, products, and technologies
the more entrepreneurs a country has, the higher the country's GDP
answers 1,2,and 3 are all correct
Which combination of factors is most likely to result in economic growth?
an increase in management productivity together with a reduction in the hours worked per employee
increased educational enrollment together with an increase in business regulation
the discovery of a new raw material deposit together with significant emigration of labour
the invention of a technology together with the investment to use it in the economy
What do you call organizations formed to provide assistance to skilled and unskilled workers?
Labor Union
Suffragists
Progressives
Entrepreneur
In my country my job is the same one that my family has done over the past 200 years.
Traditional
Command
Market
Mixed
In my country, the government has some involvement in the economy.
Traditional
Command
Market
Mixed
