Human Capital and Capital Goods Versus GDP 7th Grade Social Studies

SS7E3 SS7E3 The student will describe factors that influence economic growth and examine their presence or absence in Nigeria and South Africa

SS7E3a SS7E3a Explain the relationship between investment in human capital (education and training) and gross domestic product (GDP)

Human Capital Human Capital Education and Training The money spent to educate and train workers in how to use new technology

Human Capital V. GDP (1) Investment in human capital Workers are more properly trained GDP increases

Human Capital v. GDP (II) No investment in human capital Workers are not properly trained GDP does not increase

SS7E3b SS7E3b Explain the relationship between investment in capital (factories, machinery, and technology) and gross domestic product (GDP)

Capital Goods Capital Goods Factories, machinery, and technology used to make goods

Capital v. GDP Investment in capital goods GDP increases

Capital v. GDP (II) No investment in capital goods GDP does not increase