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Vocabulary Review

Practice the vocabulary words from the lesson.

  1. The level of subsistence of a nation, social class or individual with reference to the adequacy of necessities and comforts of daily life.

    Answer: Standard of Living

  2. The education, skills, knowledge, and experience of a human resource.

    Answer: Human capital

  3. A productive resource used to produce a good or service.

    Answer: Input

  4. The goods and services produced from inputs.

    Answer: Output

  5. A measure of how much output is generated relative to inputs used.

    Answer: Productivity

  6. Per person

    Answer: Per Capita