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Entrepreneurs are people who organize and operate businesses taking on financial risk. This relates to me because I am a entrepreneur that sells lemonade during the summer time.

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Human Capital is the knowledge, experience and skills of an employee. This relates to me because I will have to have human capital to get a job.

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An export is when goods produced in one country are shipped to another country for future sale or trade. This relates to me because my the United States exports many goods and I live in the U.S.

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Discover how Hawksford can help you manage your business in Ireland with our fund, private client and corporate services. Unlock the potential of your business in Ireland

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An import is a good or service brought into one country from another. For Example, India could import technology such as computers from China. This relates to me because many Goods that I eat are imported from many countries.

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Discover how Hawksford can help you manage your business in Ireland with our fund, private client and corporate services. Unlock the potential of your business in Ireland

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Trade is a economic concept involving the buying and selling of goods and services. Trade relates to me because when I buy things from stores is it trading. The exchange of my dollar for a good or service.

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Capital goods are goods that are used to produce other goods or services.  This relates to me because many goods I consume are produced by capital goods.

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GDP stands for Gross Domestic Product. GDP is how much money a country's economy makes from goods and services produced in one year. GDP relates to me because I contribute to the GDP of America by buying goods and services.

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Currency a system of money in general use in a particular country. The United States currency is the U.S. ollar. The United State's currency relates to me because I use the currency to buy goods an services within the U.S.

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Specialization is when a country focuses on one or two goods to produce. For Example, Mexico specializes in agriculture such as soybeans and corn. This relates to me because Mexico imports these things to the U.S. where i live to eat these Goods.

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Natural resources are material and substances that occur in nature. An example of a natural resource is wheat. Cereal is made out of wheat. Wheat relates to me because I eat cereal every morning.