| A | B |
|---|
| The United Nations | Foundaed after WWII to foster diplomacy among nations and promote world peace. |
| Economy | All the wealth, resources, production and consumption of goods and services in a region, state or nation. |
| Gross Domestic Product (GDP) | Value of everything a country produces in a year. |
| Standard of Living | The quality of life that a person, or group of people, enjoy. |
| GDP per capita | The total GDP of a country divided by its population. Used to determine standard of living in a country. |
| Economic Growth | Increases in GDP. Normal and healthy rate is 3-5% a year. |
| Economic Recession | When an economy shrinks. Happens every 5-7 years. |
| Economic Depression | A really bad economic recession. |
| Infrastructure | Electricity, roads, railroads, bridges, |
| Developed Country | A country with a high GDP per capita. |
| Developing Country | A country that has medium levels of human development. |
| Underdeveloped Country | A Country with low levels of human development. |
| Human Development Index (HDI) | Formula that combines GDP per capita, life expectancy & education levels. |
