Question

Recent news articles have noted that women are "a crucial part of society and they are an untapped resource."*) From your point of view, what impact will more women participation in the world economy have on the global GDP?

Explain with a minimum of 150 words. You must post your own response before you will be able to see other students' posts.

Provide at least one thoughtful response to a fellow student's post.

*) Dallas Morning News October 1, 2015.

Answer 1

Women are a crucial part of the society because women can potentially participate in economic activities as men and increase the production possibility of any economy. In rich as well as poor countries, the participation of woman in economic activities is substantially lower than the participation of men. This makes the women who are outside the workforce a very important untapped resource. Labor constitutes a very important factor of production. When more women participate in the workforce, the total amount of labor available to an economy increases and this expands the production possibility of a country. Expansion in production possibility uplifts the standard of living of all. Moreover, women might posses various skills which may be different from men because of the difference in physical, behavioral and psychological orientation. This can help them produce differentiated goods and services which increases the consumption options for all. Therefore, women constitute untapped resource and more participation of women in the labor force is very crucial for economic development and growth.