Human Capital

These are the "skills to pay the bills."

Its the knowledge, experience, and skills humans have that allow them make things and to do specific jobs.

Why Pay for Human Capital?

• Jobs that employ people have skill requirements.

• When countries invest in human capital, such as education or training for their citizens, it is easier to hire people to fill these higher paying jobs with skilled employees.

• Employees who are highly skilled make more, increasing the country's GDP.

How do countries rank how educated they are?

Countries get ranked based on how many people out of their whole population can read and write. This is called their literacy rate.

Standard of Living

How nice or the quality level of housing, cars, and other material goods a country has available.

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The higher a country's literacy rate is, the higher that country's standard of living will be.

Entrepreneurship

• An innovator, creator, or small business starter who assumes the risk to bring their ideas and products into the market.

• These small business starters gather together all the productive resources and the risk that goes with that to bring their designs and ideas into the market.

Risky Business

• Entrepreneurship drives business growth at big risks to the entrepreneur's own health, wealth, and well-being.

• People who start businesses provide job opportunities and products a community may need.​

• ​Governments can support small businesses by helping to lower the costs with incentives.