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
