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Factors affect GDP

Factors that affect GDP

TermDefinition
Literacy Rate The percentage of people that can read and write
Standard of living The overall well-being of a nation (How wealthy and healthy it is)
GDP The total amont of goods and services produced in a country per year
Human Capital The people and the skills they use to make a product
Capital Goods The items used to make a product. These include factories, buildings, machinery, and technologies
Entreprenuer A person who takes a risk by investing in a business
Loan/ Credit Borrowing money you dont have
Invest Using money to support money-making projects
Opertunaty Cost The things one muct give up in order to achieve a larger goal
Created by: MEOW ;P
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