U.S.and Lybia Economy
The economic stability between the United States and Libya is exceedingly distinct. The U.S. has a better stability not only because the country is more develop but also because the education, health, info structure, and labor are higher than what Libya has. In addition, the standard of living and the factors of production in Libya are very deprived. The U.S. has better literacy than Libya. More people in the U.S. know how to read and write. The U.S. expects 97% of the population and everyone over 15 to read and write while Libya has 76.2% of the population and everyone 15 and over to read and write (photius.com). The U.S. is richer than Libya because it has a greater literacy rate. Having a greater literacy rate is important to the economy. This is important because if people cannot read and write the country could not have been well developed. They also would not have the worker's ready for the new and advance industries. Many people have to stay home or in their farms helping their families since this is a problem because thechildren stay home, and they are not learning how to read or write. Having a greater literacy rate also means that the country has money to spend building schools and buying textbooks and ot
For example, a person who talks Spanish yet it was train for an English teacher could be a Spanish and an English teacher since both field related and they have the training. They also have better labor because they have more land in which they could build the hospitals and less arable land. Unlike Libya who has industries only contains petroleum, food processing textiles, and cement (photius. Libya expects the population to live 75. These are the amount of people graduated of any faculty or school in the medical field and that are working in the medical field.
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