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Glossary

  1. Standard of Living: The level of subsistence of a nation, social class or individual with reference to the adequacy of necessities and comforts of daily life.
  2. Human Capital: The education, skills, knowledge, and experience of a human resource.
  3. Input: A productive resource used to produce a good or service.
  4. Output: The goods and services produced from inputs.
  5. Productivity: The measure of how much output is produced relative to inputs used.
  6. Per Capita: Per person.