Productivity and Growth: Crash Course Economics #6
Why are some countries rich? Why are some countries poor? In the end it comes down to Productivity. This week on Crash Course Econ, Adriene and Jacob investigate just why some economies are...
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Adriene: Hi, I'm Adriene Hill. Mr. Clifford: And I'm Jacob Clifford. And welcome to Crash Course Economics. Adriene: So far we talked about GDP and how the overall economy, but we haven't really talked about why some countries have a high GDP and others have low GDP. So, why are some countries rich, and others poor? Let's investigate. Mr. Clifford: Look, a clue! Productivity! Adriene: Hmm... [Theme Music] Mr. Clifford: So, if we're gonna figure out why some countries are rich and some are poor, we have to first define what it means to be rich. Economists measure economic output by looking at Gross Domestic Product or GDP. As you remember from the last video, GDP is the market value of all goods and services newly produced in a country ...
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Adriene: Hi, I'm Adriene Hill. Mr. Clifford: And I'm Jacob Clifford. And welcome to Crash Course Economics. Adriene: So far we talked about GDP and how the overall economy, but we haven't really talked about why some countries have a high GDP and others have low GDP. So, why are some countries rich, and others poor? Let's investigate. Mr. Clifford: Look, a clue! Productivity! Adriene: Hmm... [Theme Music] Mr. Clifford: So, if we're gonna figure out why some countries are rich and some are poor, we have to first define what it means to be rich. Economists measure economic output by looking at Gross Domestic Product or GDP. As you remember from the last video, GDP is the market value of all goods and services newly produced in a country ...
