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An understanding of the best ways to produce goods and services is called?
 
(i) productivity 
(ii) technology
(iii) human capital
(iv) physical capital

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Nelly Stracke
Nelly StrackeLv2
13 Feb 2020

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Related questions

Capital can be differentiated between physical capital and human capital. Human capital is: 
 
(i) the new development in machinery and software.
(ii) the knowledge and skills workers acquire from education and training or their life experiences.
(iii) the energy use to bring together the factors of production to produce goods and services.
(iv) the goods manufactured to produce other goods and services. 

The equipment and structures available to produce goods and services are called

a. technology
b. the production function
c. physical capital
d. human capital

When a country saves a larger portion of its GDP than it did before, it will have: 
 
(i) more capital and lower productivity. 
(ii) more capital and higher productivity.
(iii) less capital and lower productivity.
(iv) less capital and higher productivity.

 

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