List and describe four determinants of productivity

Q: What correlation lies between productivity and the standard of living?

A: The amount of goods and services produced by the average worker in an hour of work is referred to as…

Q: explain economic in 19th century

A: At the starting of the 19th-century classical economics is dominated. this theory concerned itself…

Q: 9. What are Sources of productivity

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: List and describe determinants of productivity.

A: In economic terms, productivity refers to the total output produced per unit of input, this input…

Q: What is productivity and why is it an important determinant of economic growth?

A: In economics, the economic growth of an economy depends upon various determinants and productivity…

Q: Draw LRAS. What does LRAS stand for? On the same graph show economic growth q

A: LRAS stand for long Run Aggregate Supply curve representing the country's growth over a long period…

Q: Explain how entrepreneurs and other innovators further technological advance.

A: The market is a place where the buyers and the sellers interact with each other and the exchange of…

Q: Name 4 factors that are likely to contribute to an improved rate of production

A: There may be many factors that can help to improve the rate of production.

Q: How best would you decipher the difference between human capital, social capital, economic capital…

A: Capital in economics matters incorporates substantial resources, for example, apparatus and gear…

Q: . What is productivity? Describe the factors of productivity.

A: The branch that deals with behavior, performance, structure, and decision-making abilities of an…

Q: What is the essence of economic growth and how does it affect your every day life? Give an example.

A: Economic growth is the rise in an economy's production of goods and services. The rise in capital…

Q: What is the growth rate of output per person in this economy?

A: To find the growth rate of output per person, we need to first find the growth rate of output and…

Q: Productivity is all about quantity of goods and services produced from each unit of labor input…

A: Productivity is the measurement of the output per unit of labor. Productivity shows the efficiency…

Q: EXPLAIN THE DEVELOPMENT CALLED" DRIVE TO MATURITY

A: Economic development refers to the increase in the per capita income of the economy along with…

Q: HO ARE ENTREPRENEURS?

A: We live in a world where there is diversity and innovative minds all around. People of different…

Q: what are the four factors of production and their earnings and  explain their main characteristics…

A: The factors of production are the resources both natural as well as man made used in the process of…

Q: How is productivity tied to standard of living?

A: Productivity is increased by the education , training or leaning by doond or learning by watching .…

Q: entrepreneurs are

A: Entrepreneurs are those individuals who start a business by taking various types of risks. They are…

Q: What impact does economic growth have on the cost of living?

A: Economic growth generally refers to an increase in the production of goods and services from one…

Q: Economist believe there is a strong correlation between productivity and the standard of living.…

A: Productivity: - Productivity is the production capacity of input used. Standard of living: - it…

Q: he concept and give other applications of the learning curve. What does 90 percent learning curve…

A: A learning curve refers to the graph that shows the relation between the performance of the learner…

Q: Considering the determinants of productivity, list and explain some things that would tend to…

A: There are four determinants of productivity. They are: Physical capital Human capital Natural…

Q: 7. Which of the following are sources of growth?

A: Economic growth is the growth in the output level in an economy. Output level can be increased by…

Q: Productivity relates to producing the same output with more labor hours. working harder over time.

A: Productivity implies producing more output by using the same amount of resources or producing the…

Q: What is the relevance of productive and allocative efficiency to the growth process?

A: Economic efficiency refers to the state in which all the resources are optimally allocated to serve…

Q: Which of the following is an example of technology as the responsible determinant of productivity in…

A: Productivity of labor is the output that is obtained by per unit use of labor. Every nation focused…

Q: Why is R&D a key factor in productivity improvement? Name some ways R&D contributes to productivity…

A: R&D (Research and Development) is an important factor necessary for growth of every economy…

Q: How does production and growth are related to each other? Compare and contrast.   no to plagiarism

A: The production of the goods and services would result in the creation of the final value of the…

Q: Under what circumstances does labor productivity grow?

A: If the quantity of money increases, the value for money decreases. Hence, it will not account for…

Q: What is Capital in terms of business?

A: The use of the word 'capital' in business is often different from the colloquial usage of the word.…

Q: How does the division of labor increase productivity?

A: According to Adam Smith Division of labor is the concept where the task is divided in to different…

Q: How does economic profits differ from Financial Profits? Give some examples.

A: Economic profit is benefits that can be measured as far as cash generated, for example, net gain,…

Q: How is transportation related to the sector theoryof city growth?

A: Meaning of Economic Development: The tereconomic development refers to the situation under which the…

Q: Why Are the Factors of Production Important to Economic Growth?

A: Increases in the production of products and services from one period to the next are referred to as…

Q: What is meant by economies of scale and what is the importance of this concept to economic growth?

A: In an economy, production cost refers to the cost incurred when producing goods and services by the…

Q: Give Some examples of different types of productivity measures?

A: The output produced per unit of input is called the productivity. Some of the different types of…

Q: Suppose an economy's real GDP is $5,000 billion. There are 125 million workers, each working an…

A: The information given in the question is as follows:- Economy's real GDP = $5000 Billion Total…

Q: When and where did modern economic growth first happen? What are the major institutional factors…

A: Answer - The moredn economic growth first happen in 18th century in the continent of Europe. This…

Q: 10. According to Simon Kuznets, a The main force behind economic growth is increases in the quantity…

A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the…

Q: What are the 4 factors of economic growth?

A: The four factors of economic growth were:  1) Technology     Technology innovation leads to the…

Q: 2. Explain, in words, what is meant by labor augmenting productivity

A: The Solow model of growth postulates that economic growth occurs due to factor accumulation. This…

Q: In what way is a college degree a form of capital?

A: ‘Capital’ refers to the assets(which include plants, equipment,  physical tool etc) which…

Q: What are the predictions of economic theory regarding the relationship between human capital and…

A: Human capital means skilled labour , professional individual , knowledgeable individual with great…

Q: Assume there are 100 workers and each worker produces 100 outputs. If the workforce is growing by 1%…

A: Labor productivity refers to the output per labor hour. It can be calculated using the following…