a. Explain the relationship between investment in human capital (education and training) and
gross domestic product (GDP). Investing in human capital is good because it help create hospitals. If a country invests in human capital the literacy rate would rise. Also the GDP.
b. Explain the relationship between investment in capital (factories, machinery, and technology) They help make a country better because technology helps a country. If a country has factors of production the standard of living and the literacy rate would rise.
c. Explain the role of oil in these countries’ economies.
Oil Makes a country have money and countries who have access to oil are richer than countries that do not have oil.
d. Describe the role of entrepreneurship.
Is a business owner and helps create jobs mostly in a market type of economy.
gross domestic product (GDP). Investing in human capital is good because it help create hospitals. If a country invests in human capital the literacy rate would rise. Also the GDP.
b. Explain the relationship between investment in capital (factories, machinery, and technology) They help make a country better because technology helps a country. If a country has factors of production the standard of living and the literacy rate would rise.
c. Explain the role of oil in these countries’ economies.
Oil Makes a country have money and countries who have access to oil are richer than countries that do not have oil.
d. Describe the role of entrepreneurship.
Is a business owner and helps create jobs mostly in a market type of economy.