a mineral composed of several different elements
What is the world's most important alloy?
What is the most important mining product in the world?
the study of the process by which people and countries make choices on the development and distribution of their resources, goods, and services
National wealth and influence depend not so much on natural resources as on what the nation does with what it has.
a free-market economy in which anyone may go into business in an attempt to make a profit
money and equipment necessary to build industry
another name for a capitalistic market in its ideal form without government interference
Some business actions may be economically profitable but morally wrong.
an economic system in which the government owns the major industries and promises to make production decisions for the welfare of society
The most extreme form of socialism is called. . .
Every nation is a mixed . . .
gross domestic product (GDP)
the monetary value of all the goods and services produced for sale within a country's borders over the course of a year
per capita GDP
the average value of products produced by each person in the country
the effective use of raw materials, labor, and capital
The developing countries have not taken advantage of their people's skills.
the ability to produce everything needed without buying from other countries or selling to them
all of the goods that a country receives from other countries
the primary and secondary goods that a country ships to other countries
tariffs and quotas
taxes on imports and exports
a ban on importing or exporting certain products or trading with a particular country