Ask Question
BusinessBusiness
25 August, 18:25

Without increase of spply of the factors of production, how can a. nation achieve economic growth?

+3
Answers (1)
  1. 25 August, 18:50
    0
    A) through technological advancement which enables more output with the same quantity of resources

    Explanation:

    Technological advancement is also called technological progress, it is an improved method of doing old things. It means we can achieve more with little resources, that is, it leads to increase in volume of production without increase in resources. Apart from the direct job creation associated with technological advancement and innovation, it also lead to increase in GDP. Many countries that have achieved significant growth are the ones that have employed the use of technology in production.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Without increase of spply of the factors of production, how can a. nation achieve economic growth? ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Joni's Kitty Supplies applies manufacturing overhead costs to products at a budgeted indirect - cost rate of $60 per direct manufacturing labor - hour. A retail outlet has requested a bid on a special order of the Toy Mouse product.
Answers (1)
Barney decides to quit his job as a corporate accountant (which pays $10,000 a month) and go into business for himself as a certified public accountant.
Answers (1)
Which of the following is not included in a typical financial plan? a. a plan for protecting your assets with insurance b. a fund for financial emergencies c. a retirement plan d. a career plan
Answers (1)
For a business credit card, most companies that issue credit, including Visa and Mastercard, specifically state their liability policies: Only cover the first $50.
Answers (1)
Select all the items that describe the benefits that consumers may receive from: more sellers in the bracelet market lower price for bracelets better quality bracelets improved customer service less variety of bracelets
Answers (1)
New Questions in Business
Your brother has asked you for a loan and has promised to pay you $9,800 at the end of three years. If you normally invest to earn 6.
Answers (1)
A retail space was leased for $1,200 per month; the owner also pays the shopping center 8% of gross income which is $50,000 monthly. how much does the owner pay annually?
Answers (1)
Robinson Company had a net deferred tax liability of $34,000 at the beginning of the year, representing a net taxable temporary difference of $100,000 (taxed at 34 percent). During the year, Robinson reported pretax book income of $400,000.
Answers (1)
Your client wants to transfer $500 from their checking account into a savings account to cover tax liabilities for sales made last month. Where should they start the process?
Answers (1)
While working out at the gym you hear a group of individuals making obscene remarks about your body. You feel like you are being sexually harassed. Which of the following is a technique to deal with sexual harassment?
Answers (1)
Home » Business » Without increase of spply of the factors of production, how can a. nation achieve economic growth?
Sign Up Forgot Password?