What is productivity? Describe the factors of productivity.

Q: What correlation lies between productivity and the standard of living?

A: The amount of goods and services produced by the average worker in an hour of work is referred to as…

Q: List and describe determinants of productivity.

A: In economic terms, productivity refers to the total output produced per unit of input, this input…

Q: Discuss the Idea of convergence and Divergence

A: There are numerous trends and instruments to consider in the world of finance and economics. One…

Q: Draw LRAS. What does LRAS stand for? On the same graph show economic growth q

A: LRAS stand for long Run Aggregate Supply curve representing the country's growth over a long period…

Q: One of the key factors that determine an economy's real GDP i labor productivity, which is a measure…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Why does the value of output always equal the income received by resources that produced the output?

A: Output – it the total amount of commodities or services produced in a particular time period. It…

Q: Why is productivity important for the economy?

A: Productivity refers to the ratio of quantity of output to quantity of inputs. It describes how…

Q: Which of the following answer is correct ? Factor of production: getting a loan through a local…

A: The inputs which are needed to produce a good or a service are known as factors of production. They…

Q: In the simple circular-flow diagram, who buys the factors of production

A: A simple circular flow diagram represents how dollars, inputs, outputs flow through the markets. The…

Q: Sirius XM acquired Pandora, was this about scope or scale economies? How does economies of scale and…

A: Sirius XM and Pandora are both broadcasting companies, they both stream music, provide a large…

Q: Why do you think the various factors of production is an important concept of economic in…

A: Increases in the quality and quantity of the factors of production, which are divided into four…

Q: Why are people called as the real products of development?

A: Economic growth is a notion that reflects on the aggregate economic aspect of a specific nation and…

Q: Compare and contrast human capital, H, and physical capital, K. How is H different from labour, L?

A: Physical capital refers to a factor of production or input in the production process. A…

Q: Why is it that an agricultural economy like India is rich but the average Indian is poor? Answer…

A: The following problem has been solved as follows:

Q: What is machination of progress?

A: Definition In terms of globalisation and technical progress, the term "machination of progress" is…

Q: Productivity is all about quantity of goods and services produced from each unit of labor input…

A: Productivity is the measurement of the output per unit of labor. Productivity shows the efficiency…

Q: Why is Productivity important in economics? Give an example scenario Describe Productivity in…

A: Meaning of Production/Production Function: In production the output refers to the supply of…

Q: List and describe four determinants of productivity

A: Productivity is a measure of the efficiency of a firm . It is the ratio of the total volume of…

Q: entrepreneurs are

A: Entrepreneurs are those individuals who start a business by taking various types of risks. They are…

Q: In the circular-flow diagram, which of the following do firms NOT do?   a. use factors of production…

A: In the circular-flow diagram, the following are done by the firms :a)The firm uses factors of…

Q: Technological change is a combination of invention and innovation. Explain these two terms with an…

A: Invention The invention of a thing is a process of creating a new product which is not meant before.…

Q: Economist believe there is a strong correlation between productivity and the standard of living.…

A: Productivity: - Productivity is the production capacity of input used. Standard of living: - it…

Q: What does machination of progress?

A: Globalization and technological progress are referred to as "machinations of progress." The…

Q: Which economic system do you think is better in answering the following basic economic questions: a.…

A: An economic system is a method by which social orders or governments distribute and organize…

Q: Is organisation a part of factors of production?

A: # Goods and services which are the base of an economy are reffered to be as factor of production.

Q: a)Distinguish between investment and capital, b) Explain the difference between an invention and an…

A: The economic activities and several other options of an economy are based upon certain components…

Q: What conclusions could we draw from the following productivity ratios: a. Productivity>1 b.…

A: In an organization, the productivity ratio is used to analyze the connection between the total…

Q: Productivity relates to producing the same output with more labor hours. working harder over time.

A: Productivity implies producing more output by using the same amount of resources or producing the…

Q: What is the relevance of productive and allocative efficiency to the growth process?

A: Economic efficiency refers to the state in which all the resources are optimally allocated to serve…

Q: Which of the following is an example of capital as a factor of production? Group of answer choices…

A: The capital is considered as the factor of production. Capital raises the productivity of labour and…

Q: Explain what is meant by the following statement, "an increase in productivity with respect to any…

A: Productivity refers to the ratio of total output produced by the total inputs used to produce the…

Q: Which factor is NOT associated with production at a college? Select one: a. the faculty b. classroom…

A: Production means to combine various inputs-raw materials(physical), L(labor) etc. to produce output.…

Q: Why is R&D a key factor in productivity improvement? Name some ways R&D contributes to productivity…

A: R&D (Research and Development) is an important factor necessary for growth of every economy…

Q: i want real life examples of labor-intensive technology and capital-intensive technology :

A: Labor intensive technique is that which uses comparatively larger amount of labor and tiny doses of…

Q: 65. Which of the following is NOT an input? A. O Labour B. O Entrepreneurship C. O Natural resources…

A: As we know to produce something we need factors of production called input . And with the help of…

Q: How much the economy can produce at its natural rate of output depends on a. technology b. the…

A: A natural rate of output can be understood as the level of output that the economy is able to…

Q: e in the rise of Japan? a. real estate b. Keiretsu

A: In Japan,while the market for old homes seems to be healthy, the market for new homes is being…

Q: Why are socio-economic factors such as consumer's income capacity, occupation, educational level,…

A: The socio-economics factor is a sub-discipline of economics concerned with the study of the…

Q: Why does an increase in the labor force cause the Market Productivity of Capital to increase?

A: Marketing productivity is a measure of the profit responsiveness by segment to different levels of…

Q: Many economist and business leaders feel this is the most important factor in the Factors of…

A: The factors of production are the various types of inputs used in the production of final goods and…

Q: Question 4 Classify each of the following as a movement along or a shift of the production function…

A: Hi Student, Thanks for posting the question. As per the guideline, we are providing answer for the…

Q: In the production model developed and presented in classes, which of the following is NOT an…

A: An exogenous variable in an economic model is one whose value is determined outside of the model and…

Q: 2. Explain, in words, what is meant by labor augmenting productivity

A: The Solow model of growth postulates that economic growth occurs due to factor accumulation. This…

Q: Why do Urban populations are capital accumulating whereas rural populations are capital consuming?

A: There are business cycles which have to be known by the business groups all around the world.…

Q: Assume there are 100 workers and each worker produces 100 outputs. If the workforce is growing by 1%…

A: Labor productivity refers to the output per labor hour. It can be calculated using the following…