In the Years Between 1990 and 2001 When Global Gross

question 43

Multiple Choice

In the years between 1990 and 2001 when global gross domestic product rose 27%, what was the growth in global exports?

• A) 25%
• B) 75%
• C) 35%
• D) 50%

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Definitions:

Factors of Production

The resources, including land, labor, capital, and entrepreneurship, utilized in the production of goods and services.

Entrepreneurs

Individuals who start and manage their own business, taking on financial risks in the hope of profit.

Government Intervention

The involvement of a government in a market or economy typically through regulations, policies, or direct actions to influence outcomes like protecting consumers or stimulating economic growth.

Private Enterprise System

An economic system where private individuals or groups have the right to own property or businesses and make a profit with limited government intervention.