Wednesday October  Drill: Define Standard of Living.  HW: Specialization v. Diversification Wkst  Obj: Analyze the standard of living in selected African nations using selected measures including GDP, unemployment, literacy rates and life expectancy.

Standard of Living  The quantity and quality of goods and services available to people in a place.

United States  GDP – $14.72 trillion [2 nd ]  GDP per capita – $47,400 [11 th ]  Unemployment rate – 9.7% [108 th ]  Literacy Rate – 99%  Total Life Expectancy at Birth – years [49 th ]  Number of Cell Phone Subscribers – 286 million [3 rd ]

Scenario  Imagine you work for the United Nations as an economic advisor. Leaders in Africa have asked you for advice on how to raise the standard of living in Africa.  Choose one African nation you have studied.  Suggest one measure of standard of living that would cause the other measures of standard of living to increase.  Explain how improving the measure of standard of living for the nation you selected would cause the other measures of standard of living within the nation to improve.

 GDP Khan

Tuesday October  Drill: What is the difference between an import and an export?  HW: Resources South Africa  Obj: Analyze the standard of living in selected African nations using selected measures including GDP, unemployment, literacy rates and life expectancy.

Imports v. Exports ImportsExports Goods go INTO a country Goods go OUT of a country

Monday October  Drill: Define Prosperity.  HW: Complete “Basic Economics” Wkst  Obj: Analyze the standard of living in selected African nations using selected measures including GDP, unemployment, literacy rates and life expectancy.

Prosperity  a successful, flourishing, or thriving condition, especially in financial respects; good fortune. How do we know if a country is prosperous? How can a country gain prosperity?