1. Georgia Performance Standard: SS7E7 The student will describe factors that influence economic growth and examine their presence or absence in Israel, Saudi Arabia, and Iran.

2. The total value of goods and services produced in a country in a year.

3. CAPITAL GOODSHUMAN CAPITAL  Machines, factories, technologies, etc. used in production of goods and services  Employers, the humans, that produce goods and services

4. Investing in capital goods means that you spend money for newer or better capital with the goal of making a bigger profit. EX. Building more factories, upgrading machines, buying new technology

5. Investing in human capital means that you spend money to train or educate your employers with the goal of making a greater profit. EX. Technology training, further personal education, etc.

6.  Some of the largest oil producers in the world  Human Capital Investment: turning out highly trained and well educated labor force particularly in the oil industry  Capital Investment: Spend on goods related to oil industry, communication, and technology  Iran also invests a great deal on technology for its defense industry

7.  Depends on technology industries to make up for the country’s lack of natural resources  Human Capital Investment: Invests in training and technology related to medical field, agriculture technology, mining, and electronics  Provides high level of training and education!  Capital Investment: Includes technology, industrial, communications, and defense industry

8. These new businesses or products pump goods and services into the economy creating an increase in the country’s GDP