The Ten Principles Of Economics

According to one of the Ten Principles of Economics, a country’s standard of living depends on its capacity to produce goods and services. Of course, there are a variety of variables involved in this process but some of them are of critical importance to increase the level of productivity of a nation. One of these critical variables is education, education can be interpreted as in investment on human capital. Education will provide better and more prepared workers. These workers will represent a good attractive for foreign investor to put their money on Lisavia. Foreign inversion is one the most powerful tool with which an economy can grow. As one last important suggestion, I would say that it is of high importance to guarantee those foreign investors an environment of security. It would be highly beneficial to eliminate all radicals groups that can be a threat to foreign as well as guarantee them contracts that respect the right to private property.
Education is one of the factors that can help a country to move from a …show more content…
In many poor countries children often left school at an early age because their family need them to work to help to support the house. One way to help to decrease the opportunity cost for these children going school would be to guarantee them a certain amount of food for them and their family so still if they are not working they can help to provide something for their family. Other thing that can be done about this is to ban children younger than 14 years to work. Although, this would not guarantee them to go to a higher education, at least it will help them to finish middle school or something equivalent. It is important for workers and people in general to be educated because educated people tend to come up