ECONOMICS (CBSE/UGC NET)

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ECONOMICS

TECHNOLOGY

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The country of Brownsville has decided to invest heavily in new capital equipment and technology. The factor that has been described BEST influences ____
A
economic freedom.
B
supply and demand.
C
economic growth.
D
opportunity costs.
Explanation: 

Detailed explanation-1: -The four factors that drive economic growth are natural resources, labor, capital equipment, and entrepreneurship.

Detailed explanation-2: -Because savings and investment add to the stock of capital, more investment in capital leads to more economic growth. The amount and quality of labor: As long as the capital per worker does not decrease, more labor leads to more production.

Detailed explanation-3: -The correct option is b. an increase in the proportion of the population that is college educated. When an increasing proportion of the population is educated, there is more skilled labor force available. A skilled labor force has higher productivity.

Detailed explanation-4: -When a country invests in human capital it has the ability to foster more entrepreneurs, the more entrepreneurs a country has the higher the GDP.

There is 1 question to complete.
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