Consider a simple economy whose only industry is fishing. In this industry, productivity-the amount of goods and services a worker can produce per hour-is measured by the number of fish one fisherman catches per hour. In the following table, match each example to the productivity determinant it represents. Natural Human Capital per Worker Physical Capital per Worker Technological Resources per Worker Examples Knowledge The skills workers develop through training before working on and piloting boats The fertile waters in which the fish feed and breed An advanced mapping system that determines the likelihood of finding fish schools in different depths and locations The boats in the fishing fleet
Consider a simple economy whose only industry is fishing. In this industry, productivity-the amount of goods and services a worker can produce per hour-is measured by the number of fish one fisherman catches per hour. In the following table, match each example to the productivity determinant it represents. Natural Human Capital per Worker Physical Capital per Worker Technological Resources per Worker Examples Knowledge The skills workers develop through training before working on and piloting boats The fertile waters in which the fish feed and breed An advanced mapping system that determines the likelihood of finding fish schools in different depths and locations The boats in the fishing fleet
Chapter3: Scarcity, Trade-offs, And Production Possibilities
Section: Chapter Questions
Problem 3P
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Consider a simple economy whose only industry is fishing. In this industry, productivity is measured by the number of fish one fisherman catches per hour.
In the following table, match each example to the productivity determinant it represents.
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