Changes in Particular Variables Flag Up Future Changes in the Economy

question 7

Short Answer

Changes in particular variables flag up future changes in the economy. These are called _______ indicators.

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Definitions:

Human Capital

The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.

Physical Capital

The stock of tangible, non-financial assets that are used in the production of goods and services, such as machinery and buildings.

Opportunity Costs

The cost of an alternative that must be forgone in order to pursue a certain action, essentially what is sacrificed to choose one option over another.

Subsidies

Financial support provided by governments to individuals, organizations, or industries to encourage certain activities or reduce costs.