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The acronym GDP stands for ______________ and it measures _________________.

What are the four factors of production?

Economics 1

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Answers

1
What are the four factors of production?
Land, Labor, Money, & Government
Land, Labor, Capital & Entrepreneurship
Life, Liberty, Labor & Land
Entrepreneurship, Life, Money, & Capital
2
The acronym GDP stands for ______________ and it measures _________________.
Great Depression Postmodern - partial $ amount of world
Global Design & Production - total of all exports
Gross Domestic Product - the $ value of all goods/services
Gross Domesticated Produce - agricultural output
3
__________is not having enough resources to produce all of the things people would like to have
Scarcity
Production
GDP
Labor
4
__________ is the study of how people try to satisfy wants & needs through the use of resources
Economics
Land Use
Social Capital
Financial Capital