Country Development
This kind of country typically earns a GDP per capita of less than $1,100 per year.
Least Developed Country (LDC)
If your country ships steel and iron to another country, this is what we would call those products that are being moved OUT of your country.
exports
Old MacDonald had a farm. He has a type of job in farming – or this synonym for farming.
agriculture
This is the factor of production needed to produce the cotton used in “Life is Good” shirts. (Hint: Cotton is a plant)
land
This is farming only enough food to feed your family or village.
subsistence farming
If a country’s technology and industry is very high, this is the label we would give to its development.
developed country
This is the kind of tax placed by a government on imports from another country.
tariff
Dr. Einstein has a medical practice at SmartGuy hospital, so he has this type of job that helps people in exchange for pay.
service
Walt Disney invented the idea of the Disney World resort business. This is an example of...
enterprise
This is how much money a country makes on average in one year – the value of all its goods and services.
Gross Domestic Product (GDP)
This kind of country has a low level of technology and industry.
developing country
This is the name for a type of business that has factories in many countries.
multinational corporation
Chai Ling works at a Nike factory in Vietnam. This type of job is in manufacturing - or this synonym for manufacturing.
industry
Domino’s Pizza needs huge industrial sized ovens to bake its pizzas, and this is an example of…
capital
This is what we call a product that can be found OUTSIDE of our country.
foreign
A country with a high life expectancy and a low level of infant mortality must provide its people with very good services in the field of
healthcare or medicine
When products come from INSIDE a country, this is what they’re called.
Ellie is a lawyer. This is the type of job she has.
service
The gold mined and used in Pandora jewelry is an example of this factor of production.
land
This is a synonym for products that can be bought or sold.
goods
If more people in a country are farmers than work in the areas of industry or services, than a country is likely to have one of these two levels of development.
developing OR LDC
This is a region where a business can look to sell its goods or services.
market
George works at a factory that produces paper towels. This is his type of job.
industry
The mechanics hired to fix cars at Merchant’s Auto are an example of this factor of production.
labor
This type of farming produces large amounts of cash crops for sale on the local or world market.
commercial farming