ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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to improve productive efficiency
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to improve their employees’ skills
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to encourage entrepreneurship
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to encourage competition
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Detailed explanation-1: -The purpose of capital goods is to increase the productivity of a business. By using capital goods, businesses can produce more goods or services in each period. This increase in productivity can lead to higher profits and a competitive advantage in the marketplace.
Detailed explanation-2: -Additional or improved capital goods is intended to increase labor productivity by making companies more productive and efficient. Newer equipment or factories leads to more products being produced, and at a faster rate.
Detailed explanation-3: -Capital goods serve a critical role in the economy. When companies invest in capital goods, they expand their ability to create products and services. This allows businesses to make a profit and hire employees, and can result in economic growth for society as a whole.