ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following items play a role in determining productivity?
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Physical capital
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Natural resources
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Technological knowledge
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All of the above are correct
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Explanation:
Detailed explanation-1: -The main determinants of labor productivity are physical capital, human capital, and technological change. These can also be viewed as key components of economic growth. Physical capital can be thought of as the tools workers have to work with.
Detailed explanation-2: -Tastes and preferences are not determinants of productivity. The main factors determining productivity are human capital, physical capital, and technological knowledge.
There is 1 question to complete.