GDP & Economy
This measures the total value of goods/services in one year
What is GDP?
Resources that come from nature
What are natural resources?
Man-made items used to produce goods
What are capital goods?
Human capital refers to what?
Education and Training of the workforce
A person who starts a business and takes risks
What is an entrepreneur?
Country with highest literacy rate (99.7%)
What is Cuba
GDP per capita means this
What is per person?
Mexico’s most important resource
What is petroleum (oil)?
Example of a capital good
What is machinery/technology/factory/tools?
Literacy rate measures ability to do this
What is read and write?
Entrepreneurs help the economy by creating this
What are jobs?
Country where starting a business takes 8 days
What is Mexico
Higher GDP per capita means this type of economy
What is stronger?
Brazil’s top resource from the Amazon
What is lumber/forest products?
Investing in capital goods leads to this economic result
What is higher GDP/stronger economy?
High literacy usually results in this
What is high standard of living?
Starting a business is risky because of this
What is no guarantee of success and you can lose the money you invested?
Country where starting a business takes about 80 days
What is Brazil
Latin America's GDP per capita is generally lower than this region (Hint:Country you currently live in)
What is the United States
Daily Double:
Cuba produces these major crops
What are sugar, tobacco, and citrus?
Mexico and Brazil invested heavily in this type of equipment
What is machinery and equipment?
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Mexico and Brazil invest about this % of GDP in education
What is 6%?
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Too many of these make entrepreneurship difficult, like in Brazil and Cuba
What are government restrictions and taxes
Daily Double:
Country that struggles economically despite high education investment
What is Cuba
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GDP per capita helps determine this
What is standard of living?
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Natural resources help economies by doing this when exported
Make money for the economy or generate income
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Cuba’s lack of investment in capital goods and human capital caused this problem
Lower GDP
Daily Double:
Cuba invests this much of GDP in education
What is 13%?
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average time worldwide to start business
What is 21 days?
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Country with the highest GDP per capita among the three (Mexico, Brazil, Cuba)
What is Mexico