Upgrade to remove ads
17-1 The American Economy
Terms in this set (9)
Standard of Living
Quality of life based on the possession of necessitates and luxuries.
Materials in nature that make production possible.
Gross Domestic Product (GPD)
Value of annual output in a country.
Tools, machinery, and buildings used to make products.
People who take risks to start new businesses or introduce new products.
Of all the goods and Services in the world, about how much does the United states produce?
GPD reflects the price of
final goods and services
Why is GPD per capita a better measure than GPD when comparing the economic activity of countries?
It states GPD output per person in the country.
GPD measures the amount produced within a Country as well as a nations
THIS SET IS OFTEN IN FOLDERS WITH...
17-2 The American Economy
17-3 The American Economy
Chapter 18- Personal Finance Vocab
Chapter 18- Personal Finance
YOU MIGHT ALSO LIKE...
UNIT 10 - EBC2
Econ 202 Quiz 5 Questions
Vocabulary class test 1 TEIL 2 (Consumption Vokabe…
OTHER SETS BY THIS CREATOR
Chp 24 vocab
formulas for quiz thing tmrw
Chp 16 laws/principles
chp 2 vocab