Preliminary Questions 1

How is Gross Domestic Product different than Gross National Product from the lecture?

What are the three (3) major factor for the HDI?

What is productivity?

What is the "primary sector" and how does it affect the economy? Give examples

What is the "secondary sector" and how does it affect the economy? Give examples

What is the "tertiary sector" and how does it affect the economy? Give examples

How can a country improve their wealth by moving up from one sector to the next?

Bonus:

How can LDCs attain the same success or economic advantage as MDCs?