Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
GSE Unit 8 Vocabular
GSE Unit 8 Vocabulary Review #2
| Term | Definition |
|---|---|
| wage – | term for one’s financial earnings |
| economic continuum – | a 0-100 scale which ranks world economies from most command-leaning (0) to most market-leaning (100) |
| mixed economy – | term used to describe the market/command/traditional blending of all modern world economies |
| human capital – | the knowledge, skills, and relative health of a nation’s labor force |
| literate – | able to read and write in one’s native language |
| literacy rate – | the percent of a nation’s population over the age of 15 who are able to read and write |
| GDP per capita – | the average annual income of a nation’s citizens; per capita is Latin for “by each head” |
| gross domestic product (GDP) – | the estimated total value of all the final goods and services produced in a nation in a year’s time. |
| capital goods – | the factories, machinery, technology, etc. that are necessary to sustain a service or industry |
| natural resource – | a material on or in the earth that has economic value |
| entrepreneur – | those who risk their own money and resources to create a new business or service |
| private sector – | the part of the economy owned and operated by private citizens |
| profit – | as a verb, to gain financially; as a noun, the economic gains of a business |
| public sector – | the part of the economy owned and operated by the national government |
| subsistence – | producing only what is necessary for personal use/survival |
| traditional economy – | an economic model governed by custom, habit, and history |
Created by:
kiragodwin
Popular World History sets