| A | B |
|---|
| Entrepreneur | A person who organizes |
| Financial Capital | Financial assets |
| Goods and Services | The "tangible" (touchable) and "intangible" things produced by a country's economy. Examples of tangible goods include food |
| Gross domestic product (GDP) | A common measure of economic output. It equals the value of all final goods and services produced in a country in a year. "Final" goods include consumption |
| Human capital | The skills and knowledge possessed by workers. Workers acquire these skills both through formal education and through on-the-job and life experiences. |
| Inflation | Increase in overall price level. |
| Investment | Purchases of capital |
| Labor | The workers in the economy who |
| Per Capita GDP | A measure of the total output of a country thatÊtakesÊthe gross domestic product (GDP) and divides it by the number of people in the country. |
| Productivity | An economic measure of output per unit of input. |
| Prosperity | Employment rate and demand for products and services are high. |
| Recession | Unemployment rate is increasing and demand for products and services are lowering |
| Recovery | Unemployment rate is lowering and demand for products and services is increasing. |
| Standard of living | A level of material comfort as measured by the goods |
| Unemployment rate | The percentage of the total labor force that is unemployed but actively seeking employment and willing to work. |
