The Economics of Income: If You're So Smart, Why Arent You Rich?
This lesson printed from:
If You're So Smart...
The Rich Nations Mystery
Which "Wood" You Choose?
If You're So Smart, Why Aren't You Rich?
The purpose of this lesson is to help you explore the relationship between education and income. Income is earned from one's resources. Those resources might be natural resources (oil field, farm land), capital resources (man-made resources that are used in the production of goods and services: computers, factories, sewing machines), entrepreneurship (the ability to organize the other factors to produce goods or services or labor.) Most people earn their income by selling their labor. The lesson will focus on the following question:
"Why do some people earn more income from their labor than others?"
Now go on to Part 1