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Agricultural Industry
Producing crops, and raising livestock; farming.
Manufacturing Industry
The uses of machines, tools, and labor to produce goods for use or sale.
Service Industry
Provides services to businesses and consumers. No goods are produced.
Goods
Things that are manufactured, or made, and that consumers can buy and own
Socialism
Good and services should be produced and distributed equally. Wealth and earnings are balanced and shared..
Free enterprise
people are free to buy, sell, and produce whatever they want
Communist
Economic decisions are made and controlled by the government.
Retail Industry
The sale of goods individually or in small quantities to consumers.
Global Interdependence
Countries depend on each other and their products for producing and consuming
urban
city
Literacy Rate
describes a country's education
Rural
countryside
Services
activities people do for one and another. Includes plumbing, doctors, teachers, hotel workers, etc
Factors of production
RESOURCES used to produce services and goods
natural resources
Raw materials supplied by nature- oil, water, coal, copper, forests
Labor
workers that devote to a task for which they are paid
Capital
resources used to produce goods or a service- computers, delivery vehicles, hammers, desks, etc
Entrepreneur
A person who starts up and takes on the risk of a business
Consumers
buys a good or service
Scarcity
A shortage of resources
GDP per capita
a country's total income of goods and services for a year divided by the population.
life expectancy
the average number of years a person can expect to live
Note 
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