Economies in Africa

GDP Gross Domestic Product The total market value of the goods and

services produced by a country in a specific year.

Tells if a country is growing economically.

Human Capital The people working to produce goods

and services. We invest in people through EDUCATION

and training. Investment in human capital higher

GDP

Capital Manmade things we use to help us

work. Examples: Factories, machinery,

technology, and money. Investment in capital higher GDP

Natural Resources Materials that come directly from

nature. Examples: Oil, metals, and wood. More natural resources higher GDP

Entrepreneurship When someone has an idea for a good

or service and takes the risks to produce it.

Encouragement of entrepreneurship higher GDP