Econ 1-6 Productivity and Growth

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STANDARD:
E.1.1 Define and identify each of the productive resources (i.e., natural, human, capital) and explain why each is necessary for the production of goods and services. (E)
E.1.5 Use a production possibilities curve to explain the concepts of choice, scarcity, opportunity cost, trade offs, efficiency, productivity, and growth.
E.1.8 Illustrate how investment in physical and human capital can raise productivity and future standards of living. (E)
E.2.6 Analyze the earnings of workers in different industries using factors such as product value, worker productivity, and market structure. (E)

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Lance Hiles

United States

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Econ 1-6 Productivity and Growth


Econ 1-6 Productivity and GrowthOnline version STANDARD: E.1.1 Define and identify each of the productive resources (i.e., natural, human, capital) and explain why each is necessary for the production of goods and services. (E) E.1.5 Use a production possibilities curve to explain the concepts of choice, scarcity, opportunity cost, trade offs, efficiency, productivity, and growth. E.1.8 Illustrate how investment in physical and human capital can raise productivity and future standards of living. (E) E.2.6 Analyze the earnings of workers in different industries using factors such as product value, worker productivity, and market structure. (E) by Lance Hiles A C D E F G H I L N O P Q R S T U V W Y Contains A One of the factors of production is _____ , which includes machines and factories, things you need to produce other things. If it's not land or people, that means its [same]. Contains C One example of technology increasing productivity is the W.W.W.. Computers are more useful when they talk to each other. Computer at the store talked to the computer at the warehouse. Essentially, ____ equals productivity. Contains D If you want to understand why some countries are rich, we have to define rich. Economists measure economic output by looking at Gross Domestic Product (GDP), which is the market value of all ____ and ____ produced in a country in one year. Contains E Increasing productivity by increasing your capital will cost you, but finding new ways to organize production is free. Economists call this organizational effectiveness ____ : good ideas about combining the labor & capital you already have. Contains F Low productivity remains a fundamental reason why some countries are poor. Higher productivity explains why we have more money to buy stuff, but also why we have more ____ to ____ . Contains G U.S. workers today earn 8X more per hour than U.S. workers 100 years ago, because they produce 8 times more output per hour. But not only is U.S. producing more stuff, it's also producing ____ ____ products, like Avengers movies & jet engines. Contains H Some say a country is poor because they lack natural resources, or because they have inept governments, and we should talk about those ideas. Resources and ____ are interesting. Starts with I There is a correlation between nations with lots of money and nations with less ___ ___ . And since [same] makes people miserable, we assume money makes us happy, because it can prevent [same]. Starts with L One of the factors of production is ____ . Obviously, you need a place to make things. Also, whatever you make will be built from wood, stone, steel, etc, and these items are all taken from [same]. Starts with N ___ ___ cannot be the only factor in high GDP, because countries with high GDPs don't necessarily have [same]. Some countries with high GDPs are small islands & don't have room for [same]. Other high-GDP countries have [same] that no one wants. Contains O If everything boils down to productivity, what makes some countries more productive than others? Let's go back and look at the main ingredients that we need to produce things, what economists call the ____ of ____ . Starts with P GDP ___ ___ is more accurate than straight GDP, because it divides the GDP by the total number of people living there. If you have more money than another country, you still might be poorer because you have more people using those resources. Contains Q When a nation's GDP grows every year, but the average income per family stays the same, this is an issue of ____ . The country is very productive, but very few people are reaping the rewards of that productivity. Contains R One of the factors of production is ____ . Obviously, the machines will not operate themselves, so you need people to operate them. You need people for many tasks. Starts with S The reason some countries are more successful than others is productivity. The industrial revolution increased productivity, and we have benefited from increased ____ of _____ ever since. Contains T Zimbabwe has tons of natural resources: coal, fertile soil, rare minerals. But their economy is a wreck. It's a 161st in GPD per capita & 156th on the HDI. Their incompetent and corrupt ____ keeps them poor. Contains U Citizens in poor nations have the same basic needs as citizens in rich nations: shelter, food, water, healthcare. Ultimately, those goods need to be ____ , so any nation that does so will be healthy & rich. Contains V Being rich may have nothing to do with money, since money cannot buy happiness. However, money can prevent misery. The United Nations' ___ ___ Index, or HDI, measures life expectancy, literacy, education, quality of life. There is a correlation. Starts with W One example of technology, or using what you already have in a more efficient way, is the ____ ____ ____ . Computers could only do so much, but when connected them through the [same], productivity increased. Contains Y _____ is the primary factor in explaining a nation's wealth, per economists. This is a nation's ability to make more goods than another nation, with the same number of employees, & in the same given time.

Econ 1-6 Productivity and Growth

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Econ 1-6 Productivity and GrowthOnline version

by Lance Hiles

Contains A

One of the factors of production is _____ , which includes machines and factories, things you need to produce other things. If it's not land or people, that means its [same].

Contains C

One example of technology increasing productivity is the W.W.W.. Computers are more useful when they talk to each other. Computer at the store talked to the computer at the warehouse. Essentially, ____ equals productivity.

Contains D

If you want to understand why some countries are rich, we have to define rich. Economists measure economic output by looking at Gross Domestic Product (GDP), which is the market value of all ____ and ____ produced in a country in one year.

Contains E

Increasing productivity by increasing your capital will cost you, but finding new ways to organize production is free. Economists call this organizational effectiveness ____ : good ideas about combining the labor & capital you already have.

Contains F

Low productivity remains a fundamental reason why some countries are poor. Higher productivity explains why we have more money to buy stuff, but also why we have more ____ to ____ .

Contains G

U.S. workers today earn 8X more per hour than U.S. workers 100 years ago, because they produce 8 times more output per hour. But not only is U.S. producing more stuff, it's also producing ____ ____ products, like Avengers movies & jet engines.

Contains H

Some say a country is poor because they lack natural resources, or because they have inept governments, and we should talk about those ideas. Resources and ____ are interesting.

Starts with I

There is a correlation between nations with lots of money and nations with less ___ ___ . And since [same] makes people miserable, we assume money makes us happy, because it can prevent [same].

Starts with L

One of the factors of production is ____ . Obviously, you need a place to make things. Also, whatever you make will be built from wood, stone, steel, etc, and these items are all taken from [same].

Starts with N

___ ___ cannot be the only factor in high GDP, because countries with high GDPs don't necessarily have [same]. Some countries with high GDPs are small islands & don't have room for [same]. Other high-GDP countries have [same] that no one wants.

Contains O

If everything boils down to productivity, what makes some countries more productive than others? Let's go back and look at the main ingredients that we need to produce things, what economists call the ____ of ____ .

Starts with P

GDP ___ ___ is more accurate than straight GDP, because it divides the GDP by the total number of people living there. If you have more money than another country, you still might be poorer because you have more people using those resources.

Contains Q

When a nation's GDP grows every year, but the average income per family stays the same, this is an issue of ____ . The country is very productive, but very few people are reaping the rewards of that productivity.

Contains R

One of the factors of production is ____ . Obviously, the machines will not operate themselves, so you need people to operate them. You need people for many tasks.

Starts with S

The reason some countries are more successful than others is productivity. The industrial revolution increased productivity, and we have benefited from increased ____ of _____ ever since.

Contains T

Zimbabwe has tons of natural resources: coal, fertile soil, rare minerals. But their economy is a wreck. It's a 161st in GPD per capita & 156th on the HDI. Their incompetent and corrupt ____ keeps them poor.

Contains U

Citizens in poor nations have the same basic needs as citizens in rich nations: shelter, food, water, healthcare. Ultimately, those goods need to be ____ , so any nation that does so will be healthy & rich.

Contains V

Being rich may have nothing to do with money, since money cannot buy happiness. However, money can prevent misery. The United Nations' ___ ___ Index, or HDI, measures life expectancy, literacy, education, quality of life. There is a correlation.

Starts with W

One example of technology, or using what you already have in a more efficient way, is the ____ ____ ____ . Computers could only do so much, but when connected them through the [same], productivity increased.

Contains Y

_____ is the primary factor in explaining a nation's wealth, per economists. This is a nation's ability to make more goods than another nation, with the same number of employees, & in the same given time.

If you want to understand why some countries are rich, we have to define rich. Economists measure economic output by looking at Gross Domestic Product (GDP), which is the market value of all and produced in a country in one year.

Low productivity remains a fundamental reason why some countries are poor. Higher productivity explains why we have more money to buy stuff, but also why we have more to .

U.S. workers today earn 8X more per hour than U.S. workers 100 years ago, because they produce 8 times more output per hour. But not only is U.S. producing more stuff, it's also producing products, like Avengers movies & jet engines.

There is a correlation between nations with lots of money and nations with less _ _ . And since [same] makes people miserable, we assume money makes us happy, because it can prevent [same].

_ _ cannot be the only factor in high GDP, because countries with high GDPs don't necessarily have [same]. Some countries with high GDPs are small islands & don't have room for [same]. Other high-GDP countries have [same] that no one wants.

If everything boils down to productivity, what makes some countries more productive than others? Let's go back and look at the main ingredients that we need to produce things, what economists call the of .

GDP _ _ is more accurate than straight GDP, because it divides the GDP by the total number of people living there. If you have more money than another country, you still might be poorer because you have more people using those resources.

The reason some countries are more successful than others is productivity. The industrial revolution increased productivity, and we have benefited from increased of _ ever since.

Being rich may have nothing to do with money, since money cannot buy happiness. However, money can prevent misery. The United Nations' _ _ Index, or HDI, measures life expectancy, literacy, education, quality of life. There is a correlation.

One example of technology, or using what you already have in a more efficient way, is the . Computers could only do so much, but when connected them through the [same], productivity increased.