It has just been announced that in the interest of world harmony, all students are required to move to another country. You must now choose your new homeland. Try to select a country or region that you think has a high standard of living.

Select a country/region 1 Population: 50,447,719 Area: 603,700 sq km Natural resources: iron ore, coal, manganese, natural gas, oil, salt, sulfur, graphite, titanium, magnesium, kaolin, nickel, mercury, timber 2 Population: 24,317,000 Area: 120,540 sq km Natural resources: coal, lead, tungsten, zinc, graphite, magnesite, iron ore, copper, gold, pyrites, salt, fluorspar, hydropower 3 Population: 1,221,591,778 Area : 9,326,410 sq km Natural resources: coal, iron ore, petroleum, mercury, tin, tungsten, antimony, manganese, molybdenum, vanadium, magnetite, aluminum, lead, zinc, uranium, hydropower potential (world's largest) 4 Population: 6,547,189 Area: 1,092 sq km Natural resources: outstanding deepwater harbor, feldspar 5 Population: 7,240,463 Area: 41,290 sq km Natural resources: hydropower potential, timber, salt 6 Population: 45,948,811 Area: 98,480 sq km Natural resources: coal, tungsten, graphite, molybdenum, lead, hydropower

You were asked to make a choice without all the information you needed. Now that you have more data on this second chart make a selection based on the new information.

1 Population: 50,447,719 GDP $161 Billion Area: 603,700 sq km Natural resources: iron ore, coal, manganese, natural gas, oil, salt, sulfur, graphite, titanium, magnesium, kaolin, nickel, mercury, timber 2 Population: 24,317,000 Area: 120,540 sq km GDP $20.9 Billion Natural resources: coal, lead, tungsten, zinc, graphite, magnesite, iron ore, copper, gold, pyrites, salt, fluorspar, hydropower 3 Population: 1,221,591,778 Area : 9,326,410 sq km GDP $3,390 Billion Natural resources: coal, iron ore, petroleum, mercury, tin, tungsten, antimony, manganese, molybdenum, vanadium, magnetite, aluminum, lead, zinc, uranium, hydropower potential (world's largest) 4 Population: 6,547,189 Area: 1,092 sq km GDP $163 Billion Natural resources: outstanding deepwater harbor, feldspar 5 Population: 7,240,463 Area: 41,290 sq km GDP $161 Billion Natural resources: hydropower potential, timber, salt 6 Population: 45,948,811 Area: 98,480 sq km GDP $647 Billion Natural resources: coal, tungsten, graphite, molybdenum, lead, hydropower

Look at the GDP of each of the countries. Which country has the highest GDP?

1 Population: 50,447,719 GDP $161 Billion Area: 603,700 sq km Natural resources: iron ore, coal, manganese, natural gas, oil, salt, sulfur, graphite, titanium, magnesium, kaolin, nickel, mercury, timber 2 Population: 24,317,000 Area: 120,540 sq km GDP $20.9 Billion Natural resources: coal, lead, tungsten, zinc, graphite, magnesite, iron ore, copper, gold, pyrites, salt, fluorspar, hydropower 3 Population: 1,221,591,778 Area : 9,326,410 sq km GDP 10.1 Trillion Natural resources: coal, iron ore, petroleum, mercury, tin, tungsten, antimony, manganese, molybdenum, vanadium, magnetite, aluminum, lead, zinc, uranium, hydropower potential (world's largest) 4 Population: 6,547,189 Area: 1,092 sq km GDP $163 Billion Natural resources: outstanding deepwater harbor, feldspar 5 Population: 7,240,463 Area: 41,290 sq km GDP $161 Billion Natural resources: hydropower potential, timber, salt 6 Population: 45,948,811 Area: 98,480 sq km GDP $647 Billion Natural resources: coal, tungsten, graphite, molybdenum, lead, hydropower

So which country will you be moving to?

1: Ukraine Population: 50,447,719 GDP $161 Billion Area: 603,700 sq km Natural resources: iron ore, coal, manganese, natural gas, oil, salt, sulfur, graphite, titanium, magnesium, kaolin, nickel, mercury, timber 2: North Korea Population: 24,317,000 Area: 120,540 sq km GDP $20.9 Billion Natural resources: coal, lead, tungsten, zinc, graphite, magnesite, iron ore, copper, gold, pyrites, salt, fluorspar, hydropower 3: China Population: 1,221,591,778 Area : 9,326,410 sq km GDP $10.1 Trillion Natural resources: coal, iron ore, petroleum, mercury, tin, tungsten, antimony, manganese, molybdenum, vanadium, magnetite, aluminum, lead, zinc, uranium, hydropower potential (world's largest) 4: Hong Kong Population: 6,547,189 Area: 1,092 sq km GDP $163 Billion Natural resources: outstanding deepwater harbor, feldspar 5: Switzerland Population: 7,240,463 Area: 41,290 sq km GDP $161 Billion Natural resources: hydropower potential, timber, salt 6: South Korea Population: 45,948,811 Area: 98,480 sq km GDP $647 Billion Natural resources: coal, tungsten, graphite, molybdenum, lead, hydropower

CHINA SOUTH KOREA HONG KONG SWITZERLAND UKRAINE NORTH KOREA

Do you think of China as being a “rich” country to live in? Most people think of China as relatively poor. Why?

Consider this: Family A has an income of $80,000 per year. Family B has an income of $60,000 per year. Which sounds better?

Analyze this information: Family A has 2 parents and 8 children Family B has 2 parents and 1 child Which family will be able to acquire more goods and services? Family A has only $8,000 per person Family B has $20,000

CONCLUSION: THE NUMBER OF PEOPLE SHARING THE INCOME MAKES A DIFFERENCE.

GDP PER CAPITA SHOWS HOW MUCH OUTPUT IS PRODUCED PER MEMBER OF THE POPULATION.

1: Ukraine Population: 50,447,719 GDP $161 Billion GDP per capita $3,170 Area: 603,700 sq km Natural resources: iron ore, coal, manganese, natural gas, oil, salt, sulfur, graphite, titanium, magnesium, kaolin, nickel, mercury, timber 2: North Korea Population: 24,317,000 Area: 120,540 sq km GDP $20.9 Billion GDP per capita $900 Natural resources: coal, lead, tungsten, zinc, graphite, magnesite, iron ore, copper, gold, pyrites, salt, fluorspar, hydropower 3: China Population: 1,221,591,778 Area : 9,326,410 sq km GDP $3,390 Billion GDP per capita $2,800 Natural resources: coal, iron ore, petroleum, mercury, tin, tungsten, antimony, manganese, molybdenum, vanadium, magnetite, aluminum, lead, zinc, uranium, hydropower potential (world's largest) 4: Hong Kong Population: 6,547,189 Area: 1,092 sq km GDP $163 Billion GDP per capita $26,000 Natural resources: outstanding deepwater harbor, feldspar 5: Switzerland Population: 7,240,463 Area: 41,290 sq km GDP $161 Billion GDP per capita $22,600 Natural resources: hydropower potential, timber, salt 6: South Korea Population: 45,948,811 Area: 98,480 sq km GDP $647 Billion GDP per capita $14,200 Natural resources: coal, tungsten, graphite, molybdenum, lead, hydropower

LIST THE COUNTRIES AGAIN, BEGINNING WITH THE HIGHEST GDP PER CAPITA COUNTRY TO THE LOWEST GDP PER CAPITA COUNTRY

1: Ukraine Population: 50,447,719 GDP $161 Billion GDP per capita $3,170 Area: 603,700 sq km Natural resources: iron ore, coal, manganese, natural gas, oil, salt, sulfur, graphite, titanium, magnesium, kaolin, nickel, mercury, timber 2: North Korea Population: 24,317,000 Area: 120,540 sq km GDP $20.9 Billion GDP per capita $900 Natural resources: coal, lead, tungsten, zinc, graphite, magnesite, iron ore, copper, gold, pyrites, salt, fluorspar, hydropower 3: China Population: 1,221,591,778 Area : 9,326,410 sq km GDP $3,390 Billion GDP per capita $2,800 Natural resources: coal, iron ore, petroleum, mercury, tin, tungsten, antimony, manganese, molybdenum, vanadium, magnetite, aluminum, lead, zinc, uranium, hydropower potential (world's largest) 4: Hong Kong Population: 6,547,189 Area: 1,092 sq km GDP $163 Billion GDP per capita $26,000 Natural resources: outstanding deepwater harbor, feldspar 5: Switzerland Population: 7,240,463 Area: 41,290 sq km GDP $161 Billion GDP per capita $22,600 Natural resources: hydropower potential, timber, salt 6: South Korea Population: 45,948,811 Area: 98,480 sq km GDP $647 Billion GDP per capita $14,200 Natural resources: coal, tungsten, graphite, molybdenum, lead, hydropower

GDP PER CAPITA HONG KONG SWITZERLAND SOUTH KOREA UKRAINE CHINA NORTH KOREA

THE ECONOMIC MYSTERY How could a country that has fewer resources produce more output per person than a country that has more natural resources?

For example: China is rich in natural resources, but has a low per capita GDP. South Korea has fewer natural resources, but still has a higher per capita GDP. How can South Korea have more goods and services than China?

Read what Peter Drucker and Michael Porter have to say about this topic by reading the following article “What is Productivity?”

Answer the following three questions. The answers will be found in the article. 1 What is the prime determinant of the average standard of living in any nation? 2What is productivity? 3Why does productivity increase the standard of living in a nation?