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Economic Indicators

TermDefinition
Life expectancy the average time period a person can expect to live in a country
Literacy Rate The percentage of people in a country who can read and write
Gross Domestic Product (GDP) the total value of all goods and services produced with a country in a single year
Resource Industry Country relies mostly on natural resources
Manufacturing Industry Country relies mostly on production of goods in factories
Service Industry Country relies mostly on intangible goods and offering services
Standard of Living A measure of the wealth, comfort, material goods and services available to a person
GDP per Capita the value of all goods and services produced within a country per person in a country
Health Care How the people in a country are cared for EX: Physicians per 10,000 people
Developed Country A country with strong economic activity, higher GDP per capita & higher standards of living.
Developing country A country with less economic activity, lower GDP per capita & lower standards of living.
Created by: user-1726343
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