ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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capital goods
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human capital
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natural resorces
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stuff
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Detailed explanation-1: -Broadly speaking, there are two main sources of economic growth: growth in the size of the workforce and growth in the productivity (output per hour worked) of that workforce. Either can increase the overall size of the economy but only strong productivity growth can increase per capita GDP and income.
Detailed explanation-2: -Economists define four factors of production: land, labor, capital and entrepreneurship. These can be considered the building blocks of an economy. How these factors are combined determines the success or failure of the outcome.
Detailed explanation-3: -They are the natural capital out of which other forms of capital are made. They contribute towards fiscal revenue, income, and poverty reduction. Sectors related to natural resources use provide jobs and are often the basis of livelihoods in poorer communities.
Detailed explanation-4: -Coal or natural gas. Solar energy or sunlight. WaterMetals like silver, gold, copper, aluminium, iron, etc. SaltTimber or wood.