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Ch 77: Basics of Economics & Geography

About This Chapter

This chapter will help you study the basics of economics and geography. You can learn about different types of capital and how the global economy functions.

Basics of Economics & Geography - Chapter Summary

Enhance your understanding of the basics of economics and geography by watching these video lessons. You'll be able to learn about economics in different periods of time, including the present day. Study this chapter when you're ready to find out more about:

  • Economic growth and activity
  • Real GDP per capita
  • Effects of global regulation
  • Human capital and physical capital
  • Productivity and unemployment
  • Effects of technology, research and development on productivity
  • The global economy

Economic experts will guide you through the information in this chapter. Our lessons feature video timelines that encourage you to find the subject you'd like to focus on. You can ensure you understand how the economy is connected to geography by completing the interactive quizzes that accompany each lesson.

9 Lessons in Chapter 77: Basics of Economics & Geography
Test your knowledge with a 30-question chapter practice test
Economic Growth: How to Raise a Nation's Potential Output

1. Economic Growth: How to Raise a Nation's Potential Output

Learn the truth about long run economic growth, including how economists define and illustrate an increase in the potential output of a nation through change in real GDP.

Economic Activity: Pre-Industrial, Industrial & Post-Industrial

2. Economic Activity: Pre-Industrial, Industrial & Post-Industrial

This lesson will explore the eras of pre-industrialism, industrialism, and post-industrialism. In doing so, it will highlight subsistence-level living, cottage industries, and the service industry.

How Real GDP per Capita Affects the Standard of Living

3. How Real GDP per Capita Affects the Standard of Living

Have you ever wondered why some countries are better off than others? In this lesson, explore the concept of real GDP per capita, an economic measure of a nation's standard of living, and discover how population, productivity, and the savings rate effect the standard of living.

Global Regulation of Domestic Economic Activity & Wealth

4. Global Regulation of Domestic Economic Activity & Wealth

This lesson will explain how different domestic economies are regulated. In doing this, it will explain traditional, market, command, and mixed economy systems as well as subsistence living and communism.

Investment in Human Capital and Productivity

5. Investment in Human Capital and Productivity

This lesson explores the education, knowledge and skills of the labor force - what economists call human capital - including how it affects productivity and economic output.

Physical Capital: Definition and Effects on Productivity

6. Physical Capital: Definition and Effects on Productivity

This lesson explains what physical capital is and why it's important to an economy. Using real-world examples, you'll see how it relates to the process of producing goods and services, which is a major foundation of economic growth.

How Productivity Affects Unemployment

7. How Productivity Affects Unemployment

Increases or decreases in productivity can affect employment rates. Find out how productivity and unemployment are connected in this lesson as you look at different situations that may occur in an economy.

How Technology, Research & Development Affect Productivity

8. How Technology, Research & Development Affect Productivity

Economists consider productivity to be a nation's long-run growth engine. This lesson explores the connection between technology, research & development, and productivity, using real-world examples.

The Global Economy: Advantages, Expansion & Impact

9. The Global Economy: Advantages, Expansion & Impact

This lesson will explain the concept of economic globalization. We will look at both its positive and negative effects while also highlighting the terms 'import,' 'export,' and 'capital flight.'

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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