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GDP

TermDefinition
Literacy Rate The percentage of people that can read and write
Standard of Living The overall well-being of a nation
GDP The total amount of goods and services produced in a country per year
Capital goods The items used to make a product. These include factories, buildings, machinery and technology
Human Capital The people and the skills they use to make a product
Entreprenuer A person who takes a risk by investing in a business
Credit\ Loan Borrowing money you do not have
Investment Using money to support money-making products
Opportunity Cost The things one must give up to achieve a larger goal
Created by: ZipPuppy12
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