________ May Be Defined as the Ways of Living Built

question 53

Short Answer

________ may be defined as the ways of living built by a group and passed on from one generation to the next.

---

Definitions:

Resource Endowments

The natural resources, capital, and human skills that a country or region possess, which can influence its economic development and trade patterns.

IACs

Industrialized Advanced Countries, a term sometimes used to refer to economically developed countries with high levels of industrialization.

Microcredit

Anti-poverty programs that lend small amounts of money to poor entrepreneurs.

Entrepreneurs

Individuals who create, organize, and manage a new business venture, taking on financial risks to do so.