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anything that is of value to humans

natural resource

anything from nature that is of value to humans

capital resource

money, large buildings, expensive machines, and infrastructure

human resource

the number of people in a country and the skills they possess

renewable resource

a natural resource that can regenerate itself with proper management

nonrenewable resource

a natural resource that will run out eventually

energy resource

a resource that can be used to generate power

fossil fuels

coal, oil, and natural gas


how something looks

skilled laborers

people who must be trained over a long period of time

unskilled laborers

people who can be trained in a short period of time

entrepreneurial abilities

the ability to start and manage a business


the basic systems that help an economy run such as roads, telecommunications, schools, and transportation networks

primary economic activity

when a resource is gathered from nature such as farming, hunting, and fishing

secondary economic activity

when a resource is processed into something useful or manufactured into something

tertiary economic activity

the service sector of the economy

environmental degradation

harming the environment or causing pollution

developed nation

a country with a high standard of living

developing nation

a country with a low standard of living


a country that does not have an outlet to the ocean


integration of a national economy into an international economy through trade, foreign investment, and the spread of technology

product assembly

when the components of an item are shipped to a central location and put together


the process of replacing human power with machine power

hydroelectric power

power generated by water


large farms owned by corporations


telephone, radio, television, cell phone, and internet networks

cash crops

plants that are grown for export in exchange for money such as tobacco, sugar, and cotton

gross domestic product

the total value of all of the goods and services produced within a country in a year

purchasing power parity

the theory that identical products and services in different countries should cost the same


when a natural resource is made into something useful. some examples are mills, refineries, and canneries.



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