Economic Growth

2. Physical structures like roads, railways, ports, and communication networks that support production.
3. The value of exports minus imports.
5. Raw materials from nature (e.g., oil, minerals) used in production.
6. How optimistic firms feel about future economic conditions.
8. The total value of all goods and services produced in an economy, adjusted for inflation.
10. Economic activity that is not recorded or taxed, so not included in GDP.
12. When people who are able and willing to work cannot find a job.
13. All people who are able and willing to work.
15. The value of all goods and services produced in an economy at current prices, without adjusting for inflation.
17. Spending by the government on public and merit goods and wages of public employees.
18. An unexpected event that reduces total supply (e.g., bad weather, oil price spike).
19. An unexpected event that reduces total demand (e.g., higher interest rates, falling confidence).

1. Skills, education, and health of the labour force.
4. Payments for which no good or service is exchanged (e.g., unemployment benefits); not included in GDP.
7. Business spending on capital goods (machinery, technology) to increase production.
9. An increase in the productive capacity of an economy or an increase in real GDP.
11. Household spending on goods and services.
14. GDP divided by the total population; an indicator of average income per person.
16. A fall in total demand and GDP over time; negative economic growth.