Literacy & Standard of Living
People who can read and write have this.
What is high literacy rate?
Human capital is when a country invests in education and this.
Training
Factories, machines, and computers are all examples of this.
Capital goods
Oil, water, and forests are examples of what?
Natural Resources
A person who starts a new business is called this.
Entrepreneur
Countries with high literacy rates usually have this kind of standard of living.
A high standard of living
When workers get more education and training, this usually goes up.
GDP or GDP per capita
Japan’s economy is strong because it invests a lot in these goods.
Capital goods
India benefits from having good soil for this activity.
Farming
When entrepreneurs create new businesses, this part of the country grows.
The economy
North Korea has a low standard of living partly because people do not have access to good jobs. This is often caused by low levels of what?
Literacy rate
India’s technology jobs show that the country is investing in this.
Human Capital
North Korea has old factories and machines. This hurts its what?
GDP
North Korea has many natural resources but still struggles because it lacks this.
Investment or Technology
North Korea does not allow people to start their own businesses because it has this type of economy.
A command economy
Japan and South Korea have strong economies because most people can do this skill well.
Read and write
China trains workers to improve their skills. This is an example of investing in what?
Human Capital or Skills
South Korea invests in new technology for companies like Samsung. These are examples of what?
Capital Goods
Japan has very few natural resources, so it must do this to get what it needs.
Import Goods
Entrepreneurs help the economy by creating new products and new what?
Jobs
Explain one way that being able to read and write can help a country grow.
Reading and writing help people get better jobs and earn more money
Explain why countries with untrained workers often have low GDP per capita.
Workers without training can’t do high‑skill jobs, so they earn less
Explain how building more factories and buying better machines can help a country grow.
Better machines and factories help a country make more goods
Explain why natural resources alone do not make a country rich.
A country also needs good workers, technology, and leadership
Explain how entrepreneurs can help increase a country’s GDP per capita.
Entrepreneurs create businesses and jobs that raise GDP per capita