Consider a simple economy whose only industry is printing. In this industry, productivity—the amount of goods...
Consider a simple economy whose only industry is printing. In this industry, productivity—the amount of goods and services a worker can produce per hour—is measured by the number of documents one worker prints per hour.
In the following table, match each example to the productivity determinant it represents.
|
Examples |
Human Capital |
Natural Resource |
Physical Capital |
Technological Knowledge |
|
|---|---|---|---|---|---|
| A method of coating the paper that goes through the printing presses and significantly reduces paper jams | |||||
| The presses used to print documents | |||||
| The trees that are used to create pulp for the production of paper | |||||
| The knowledge workers receive from training sessions on how to use and repair the printing presses |
Homework Answers
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Consider a simple economy whose only industry is printing. In
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