Add beef broth, garlic powder, and onion powder to a medium saucepan.

Bring this to a boil over medium-high heat.

In a small bowl, mix the water and corn starch together until the corn starch is fully dissolved.

Next, add the corn starch and water mixture to the beef broth and reduce the heat to medium to low heat.

Stir constantly until the gravy is thickened.

While the gravy is thickening, taste test it and add salt and pepper to taste.

After the gravy is done, leave it in the pan or transfer it to a bowl and serve hot.