Use the list below to answer the following question:

1. Improvements in technology.

2. Increases in the supply (stock) of capital goods.

3. Purchases of expanding output.

4. Obtaining the optimal combination of goods, each at least-cost production.

5. Increases in the quantity and quality of natural resources.

6. Increases in the quantity and quality of human resources.

Refer to the list. As distinct from the demand and efficiency factors of economic growth, the supply factors of economic growth are

Question

Business

Cara Huynh

29 May, 14:45

Use the list below to answer the following question:

1. Improvements in technology.

2. Increases in the supply (stock) of capital goods.

3. Purchases of expanding output.

4. Obtaining the optimal combination of goods, each at least-cost production.

5. Increases in the quantity and quality of natural resources.

6. Increases in the quantity and quality of human resources.

Refer to the list. As distinct from the demand and efficiency factors of economic growth, the supply factors of economic growth are

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Answers (1)

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Ryann · Answer 1

The answer is.

Improvements in technology.

Increases in the supply (stock) of capital goods.

Increases in the quantity and quality of natural resources.

Increases in the quantity and quality of human resources.

Explanation:

Economic growth is calculated as the annual percentage in real GDP or annual change in real per capita GDP.

The supply factors of economic growth in the list are:

1. Improvements in technology. Technology advancement improves the efficiency of labor and output.

2. Increases in the supply (stock) of capital goods. Countries with a higher rate of investment should have a growing physical capital stock and a higher rate of GDP

3. Increases in the quantity and quality of natural resources.

4. Increases in the quantity and quality of human resources.