Embedded Files
--THINK AHEAD--
"Why are you here and not out with your friends or sleeping in?" "Why is it necessary for you to be here?" "What is your presence here actually saying about how the 'market system' treats people who don't study hard?"
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--TASK--
--TASK--
"Let's use the circular flow of income diagram below to explain how 'ownership of factors of production results in a greater (materialistic) quality of life'."
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"Ok!, so you should have concluded that income is generated from the ownership of productive factors of production, which is then used by the owners to purchase consumer goods and services, which might/should/arguably improve the quality of life."
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--TASK--
--TASK--
"Now if ownership of these factors determines income and consumption, how it it related to equity, or fairness?", "Research the famous quote below and explain how it relates to the ownership of resources."
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"That's right!, Some factor ownership, in particular that of land and capital resources were gained through illegal means, and not through a method we might consider 'fair' or 'equitable' and this can create 'generational inequity'
--TASK--
--TASK--
"Now read the article below and extract a real world example of this to add to your notes."
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"What about the ownership of 'Human Capital' as well as access to the means to improve it?, "Do we all have equal access to education and healthcare services?"
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"Look at the infographic below!"
"We all know that pursuing further education as far as possible, improves your earning capacity......given the chance of course!"
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--⚠️"Trigger warning"⚠️--
"You are about to be see an image that may cause you a certain amount of distess or trigger some PTSD."
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"Thankfully the Universal Declaration of Human Rights states that "..no one shall be held in slavery or servitude." In other words you 'fully-own' your own labour resource which you are free to 'rent out' to firms in return for wages, HOWEVER we know that 'not everyone is born equal', and this variation in 'Human capital' be it through differences in genetics, skills, birthplace, eduction, health etc.... can have profound impacts on the ability of the individual to possess a decent level of income generating human capital."
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"How do you think the following two images impact that ability of an individual to achieve an equitable level of human capital?"
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--TASK--
--TASK--
"Now turn this into a model answer?"
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