Lesson Details

Unit 7: Lesson 43 - Why Are Some Nations Wealthy?

Students work in groups to examine data from several nations regarding size, natural resources, and population. Using these data, they try to identify the nations and predict whether each nation is rich or poor. Students rank the nations from richest to poorest. After the mystery nations are revealed, students discuss economists' findings about the factors that contribute most to long-term economic growth.

Concepts:

  • Economic Growth
  • Human Capital
  • Natural Resources
  • Physical Capital
  • Productivity
  • Property Rights
  • Savings
  • Trade
Standards:
  • Standard #15: Economic Growth

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