Key learning points

1. There is a diverse range of economic activities in North and South America.
2. There are inequalities between the lives of people within and between countries.
3. Different indicators can be used to measure how well a country and its people are doing.

Keywords

• Goods and services - Goods are items that people need or buy, e.g. food, clothes and services are systems that supply a public need, e.g. waste collection.

• Wealth - Wealth is having a lot of money, possessions or resources.

• Inequality - Inequality is when something is not shared evenly between everyone.

• Indicator - An indicator is a sign that shows the level or state of something.

Common misconception