ECONOMICS
PRODUCTIVITY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
using more technologically advanced machines
|
|
|
increasing the amount of automation
|
|
|
improved training of workers
|
|
|
employing more workers to produce the same level of output
|
Detailed explanation-1: -The correct answer is A. Labor productivity is increased by all of the following except an unskilled workforce.
Detailed explanation-2: -An increase in the size of the labor force without any up-gradation in skills or technical advancements will not contribute to increases in the productivity of labor. If less skilled labor is employed, they would not be able to produce a given amount of output per hour.
Detailed explanation-3: -With growth in productivity, an economy is able to produce-and consume-increasingly more goods and services for the same amount of work.
Detailed explanation-4: -Which of the following is a claimed advantage of flow production? Each worker enjoys doing one repetitive job all the time. The capital costs of setting up a production line are low. The mass production helps to keep costs per unit low.
Detailed explanation-5: -Project-based production is one-of-a-kind production in which only one unit is manufactured at a time. This type of production is often used for very large projects or for individual customers.