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The estimated total value of all the final goods and services produced in a nation in a year’s time is the ______.
very high
GDP (gross domestic product)
capital goods (physical capital)
entrepreneur
Natural resources
standards of living
standard of living
private sector
Australia has a 99% overall literacy rate so the standard of living for most people is _______.
very high
GDP (gross domestic product)
capital goods (physical capital)
entrepreneur
Natural resources
standards of living
standard of living
private sector
This is the part of the economy owned and operated by private citizens.
very high
GDP (gross domestic product)
capital goods (physical capital)
entrepreneur
Natural resources
standards of living
standard of living
private sector
Low literacy rates typically correlate to lower ___________.
very high
GDP (gross domestic product)
capital goods (physical capital)
entrepreneur
Natural resources
standards of living
standard of living
private sector
These are people who risk their own money and resources to create a new business or service.
very high
GDP (gross domestic product)
capital goods (physical capital)
entrepreneur
Natural resources
standards of living
standard of living
private sector
The level of wealth and material comfort available to people is their _________.
very high
GDP (gross domestic product)
capital goods (physical capital)
entrepreneur
Natural resources
standards of living
standard of living
private sector
One factor which can impact a nation’s GDP is its level of investment in _______ like the factories, machinery, and technology that businesses need.
very high
GDP (gross domestic product)
capital goods (physical capital)
entrepreneur
Natural resources
standards of living
standard of living
private sector
___________ like coal, iron ore, natural gas, oil, gold, silver, copper, and uranium also affect Australia's GDP.
very high
GDP (gross domestic product)
capital goods (physical capital)
entrepreneur
Natural resources
standards of living
standard of living
private sector
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