8.
What is a country with a strong economy and a high quality of life called?
Developed country
Trade
Productivity
Tariff
A country with a strong economy and a high quality of life is called a developed country.
9.
What is a person or business that makes and sells goods or services called?
Demand
Supply
Consumer
Producer
A person or business that makes and sells goods or services is called a producer.
A country with a strong economy and a high quality of life is generally referred to as a developed country. Developed countries have advanced infrastructure, technological advancements, high levels of literacy and education, and a well-functioning healthcare system. These countries usually have high per capita income and offer their citizens a good standard of living.
Trade refers to the buying and selling of goods and services between countries or regions. It involves the exchange of goods and services across international borders, usually driven by comparative advantage, economies of scale, and specialization.
Productivity refers to the efficiency and effectiveness with which resources (such as labor, capital, and technology) are used to produce goods and services. High productivity levels are associated with economic growth and improved living standards.
A tariff is a tax or duty imposed on goods and services imported into a country. It is usually levied as a percentage of the value of the imported goods and serves as a means to protect domestic industries, generate revenue for the government, or influence trade patterns. Tariffs can be used to increase the price of imported goods, making them less competitive compared to domestically produced goods.
To answer the question, "What is a country with a strong economy and a high quality of life called?", the term used to describe such a country is a "developed country".
To understand the concept of a developed country, it is important to first grasp a few key economic terms:
1. Trade: Trade refers to the exchange of goods and services between countries or regions. This can be either domestic trade (within a country) or international trade (between different countries). Trade plays a crucial role in a country's economic development by promoting specialization, increasing efficiency, and fostering economic growth.
2. Productivity: Productivity refers to the measurement of output produced per unit of input used. In the context of a country's economy, it typically represents the efficiency and effectiveness of its labor force, capital, and resources, and how well they can generate economic value. Higher productivity generally leads to stronger economic growth and a higher standard of living.
3. Tariff: A tariff is a tax or fee imposed on imported goods and services. Countries often use tariffs to protect domestic industries from foreign competition or to generate government revenue. Tariffs can affect trade patterns, economic growth, consumer prices, and the overall welfare of a country's economy.
A developed country, in contrast to a developing or underdeveloped country, is typically characterized by a strong economy, high living standards, advanced infrastructure, significant technological advancement, and a relatively high level of industrialization. Developed countries usually have well-established healthcare systems, educational institutions, political stability, and social welfare programs. They also tend to have higher levels of trade, productivity, and innovation.
When identifying a country with a strong economy and a high quality of life, it is important to consider various factors such as GDP per capita, life expectancy, education, healthcare, infrastructure, and ease of doing business. International organizations like the United Nations, World Bank, or the International Monetary Fund regularly publish reports and rankings that measure and assess the development level of different countries. These reports provide valuable insights into which countries can be considered developed based on economic performance and social well-being indicators.