1H

Question 1

Employment opportunities

Answer 1

Businesses commonly employ human labour to produce goods and services.

Question 2

Tax

Answer 2

Tax is a compulsory payment to the which is used to finance the provision of public goods and services, such as courts and police services.

Question 3

Infrastructure

Answer 3

Infrastructure is the essential facilities and structures that are required for an economy to operate.

Question 4

Economic growth

Answer 4

Economic Growth is when the total value of goods and services produced by an economy increases over a period of time. Economic growth can be measured by gross domestic product (GDP)

Question 5

International trade

Answer 5

International trade is the exchange of goods and services between different countries.

Question 6

Research and Development

Answer 6

Research and development can significantly drive the economic development of a nation.