The determinants of productivity Consider a simple economy whose only industry is fishing. In this industry, productivity—the amount of goods and services a worker can produce per hour—is measured by the number of fish one fisherman catches per hour. In the following table, match each example to the productivity determinant it represents. Examples Human Capital per Worker Natural Resources per Worker Physical Capital per Worker Technological Knowledge The fertile waters in which the fish feed and breed An advanced mapping system that determines the likelihood of finding fish schools in different depths and locations The skills workers develop through training before working on and piloting boats The boats in the fishing fleet
The determinants of productivity Consider a simple economy whose only industry is fishing. In this industry, productivity—the amount of goods and services a worker can produce per hour—is measured by the number of fish one fisherman catches per hour. In the following table, match each example to the productivity determinant it represents. Examples Human Capital per Worker Natural Resources per Worker Physical Capital per Worker Technological Knowledge The fertile waters in which the fish feed and breed An advanced mapping system that determines the likelihood of finding fish schools in different depths and locations The skills workers develop through training before working on and piloting boats The boats in the fishing fleet
Chapter9: Production Functions
Section: Chapter Questions
Problem 9.2P
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The determinants of productivity
Consider a simple economy whose only industry is fishing. In this industry, productivity—the amount of goods and services a worker can produce per hour—is measured by the number of fish one fisherman catches per hour.
In the following table, match each example to the productivity determinant it represents.
|
Examples
|
Human Capital per Worker
|
Natural Resources per Worker
|
Physical Capital per Worker
|
Technological Knowledge
|
|
|---|---|---|---|---|---|
| The fertile waters in which the fish feed and breed |
|
|
|
|
|
| An advanced mapping system that determines the likelihood of finding fish schools in different depths and locations |
|
|
|
|
|
| The skills workers develop through training before working on and piloting boats |
|
|
|
|
|
| The boats in the fishing fleet |
|
|
|
|
|
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