Answered: Explain the difference between…

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter17: Economic Growth: Resources, Technology, Ideas And Institutions

Section17.2: A Production Function And Economic Growth

Problem 2ST

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Explain the difference between "capital", "human capital", and "financial capital"?

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Entrepreneur is responsible for the movement of enterprise. Entrepreneur is geographically as well as occupationally mobile. He would be geographically mobile if wants to contribute his skills to other country. He would be occupationally mobile if wants to contribute his skills to other industry. For example if entrepreneur from textile industry wants to contribute his skills to automobile industry then he would be occupationally mobile. Enterprise is the most mobile factor of production and would be hardly geographically immobile if entrepreneur stays in one country or would be occupationally immobile if stays in one industry.

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