What is the relationship between human capital, capital investment, and GDP?

How can a country increase its GDP?

produce its own goods and services

If you have a better _____, you can improve your standard of living.

salary

_____ is when money, resources, or opportunities are provided in order to gain profitable returns in the future.

Investment

_____ _____ is the number of people in an area that can read and write.

Literacy Rate

_____ _____ _____ is a level of material comfort as measured by the goods, services, and luxuries available to an individual, group, or nation.

Standard of Living

There is a relationship between education levels and _____ _____ in terms of people's ability to produce income.

human capital

Investment in _____ _____ relates to a higher GDP.

physical capital

What are the purposes of GDP?

*compare one country's economy to another *check a country's economic progress over time *show if the economny is growing or not

More advanced factories, machinery, and technology creates a more productive workforce, which leads to a higher ________.

GDP

The presence or absence of *investment in Human Capital *investment in Physical Capital *land (natural resources) available *entrepreneurship determine the country's _____ _____ _____ for the year.

Gross Domestic Product

_____ _____ ____ is the total of goods and services produced in one year within a country.

Gross Domestic Product (GDP)

How is Economic Growth Measured?

Gross Domestic Product (GDP) in one year

When countries invest in _____ _____, they are providing education and/or training for the people who perform the labor.

Human Capital

_____ _____ refers to the people who perform labor.

Human Capital

When countries invest in _____ _____, they are providing better facilities, resources and/or materials for the people who perform the labor.

Physical Capital

_____ _____ refers to the factories, machinery, and technology used to produce goods and services.

Physical Capital

Educated and skilled workers are an important factor in a country's _____ _____.

economic growth

Education and the abilities it develops create a smarter and more productive workforce, which leads to greater _____ _____..

economic growth

The 4 main factors that influence _____ _____ in a country: *investment in Human Capital *Investment in Physical Capital *Land (natural resources)available *entrepreneurship

economic growth

Studies have shown that investment in the _____ and _____ _____ of people relates to a higher GDP.

education, skills training

A country that improves the _____ _____ among its citizens will improve the _____ _____ _____ within that country and improve its economy.

literacy rate, standard of living

If you can _____ you can _____.

read, learn

What does the GDP measure?

what has been produced within a country-not imports

If you can learn, you can improve your _____ _____, and get a better job that pays a better salary.

work skills