determining wealth of a country
2. Once your chart is complete use it to answer the before reading question c.
C. how do you suppose the factors of production relate to how wealthy or impoverished people are in a country?
These are some reasons that the factors of production relate to how wealthy or impoverished people are in a country. The factors of production relate to how wealthy or impoverished people are in a country because if people don’t have the labour skills, land, money, or technology then there not making any money. For example a poor person may have the labour skills to do a job properly but he/she doesn’t have the money to afford the land or technology he/she needs for the job as well. A wealthy person on the other hand has labour skills, land, money, and the technology they need to become wealthy. For example, a wealthy person has labour skills since he/she is wealthy they can easily afford the land or technology he/she needs to make even more money. These were some reasons that the factors of production relate to how wealthy or impoverished people are in a country.
C. how do you suppose the factors of production relate to how wealthy or impoverished people are in a country?
These are some reasons that the factors of production relate to how wealthy or impoverished people are in a country. The factors of production relate to how wealthy or impoverished people are in a country because if people don’t have the labour skills, land, money, or technology then there not making any money. For example a poor person may have the labour skills to do a job properly but he/she doesn’t have the money to afford the land or technology he/she needs for the job as well. A wealthy person on the other hand has labour skills, land, money, and the technology they need to become wealthy. For example, a wealthy person has labour skills since he/she is wealthy they can easily afford the land or technology he/she needs to make even more money. These were some reasons that the factors of production relate to how wealthy or impoverished people are in a country.