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What effect does new technology usually have on economy?
The effect that new technology usually has on economy is seen in various ways. Technology will improve of efficiency and the overall productivity in the market. .
What is learning effect in economics?
The learning effect in economics refers to the phenomenon where individuals or firms improve their efficiency and productivity through experience and practice over time. As workers gain skills and knowledge, they become more adept at their tasks, leading to lower production costs and increased output. This effect is often observed in industries where repetitive tasks are common, and it underscores the importance of investment in training and education. Ultimately, the learning effect can contribute to economic growth and competitiveness.
How changes in productivity of labor will effect the ppc?
Changes in labor productivity can significantly impact the production possibilities curve (PPC). If labor productivity increases, the economy can produce more goods and services with the same amount of resources, effectively shifting the PPC outward. Conversely, a decrease in labor productivity would restrict output potential, causing the PPC to contract. These shifts reflect the economy's ability to efficiently utilize its resources and maximize production.
What is the Benefits of productivity?
• That this is likely to lead to economic growth or improved living standards (or equivalent answer) (2 marks). • Costs of production fall/efficiency increases so more profit • Removes inflationary pressure • Allow answers based on competitiveness. • Encourages inward investment • Effect on the current account • Shift out in the PPF/increase in productive potential • Effect on employment levels ^^^^^^^^^^^^^ copied straight from a mark scheme
What 4 factors have an effect on the marginal efficiency of capital?
1. Demand of commodities 2. cost of production 3. Foreign trade 4.Rate of population growth
What has been an effect of the AIDS pandemic?
There has been a decline in economic productivity in countries affected by AIDS.
What has been the lasting effect of religious missionaries in Africa?
There has been a decline in economic productivity in countries affected by AIDS.
What effect does new technology usually have on economy?
The effect that new technology usually has on economy is seen in various ways. Technology will improve of efficiency and the overall productivity in the market. .
What is Natural resources and its productivity decline and impact?
Resources which are available in nature in their natural form are called natural resources. Productivity is the average amount of produce per unit area. Reduction in the various process in terms of quantity and quality is called decline of natural resource. Impact is the after effect of the decline of natural resource which is bourne by all living beings on the earth.
What effect does decreasing automation have on a company?
Decreasing automation can lead to reduced efficiency, slower production speed, increased error rates, and higher labor costs for a company. This can result in lower productivity levels and competitiveness in the market compared to companies that embrace automation.
What was an effect for waterwheel?
One effect of the waterwheel was the increased mechanization of different industries such as milling, mining, and textile production. This led to greater efficiency in production processes and helped drive economic growth during the Industrial Revolution.
How changes in productivity of labor will effect the ppc?
Changes in labor productivity can significantly impact the production possibilities curve (PPC). If labor productivity increases, the economy can produce more goods and services with the same amount of resources, effectively shifting the PPC outward. Conversely, a decrease in labor productivity would restrict output potential, causing the PPC to contract. These shifts reflect the economy's ability to efficiently utilize its resources and maximize production.
What is learning effect in economics?
The learning effect in economics refers to the phenomenon where individuals or firms improve their efficiency and productivity through experience and practice over time. As workers gain skills and knowledge, they become more adept at their tasks, leading to lower production costs and increased output. This effect is often observed in industries where repetitive tasks are common, and it underscores the importance of investment in training and education. Ultimately, the learning effect can contribute to economic growth and competitiveness.
What is the Benefits of productivity?
• That this is likely to lead to economic growth or improved living standards (or equivalent answer) (2 marks). • Costs of production fall/efficiency increases so more profit • Removes inflationary pressure • Allow answers based on competitiveness. • Encourages inward investment • Effect on the current account • Shift out in the PPF/increase in productive potential • Effect on employment levels ^^^^^^^^^^^^^ copied straight from a mark scheme
How did the solution of the basketball effect productivity?
Twenty_eight_students_collected_12374_bottle_caps_if_some_students_collected_one_more_each_than_the_rest_of_the_students_then_how_many_collected_441_and_how_many_collected_442
How increasing the efficiency of a system can have a positive effect on society?
Increasing the efficiency of a system can lead to cost savings, improved productivity, and reduced waste. This can translate to lower prices for consumers, increased economic growth, and a more sustainable use of resources, ultimately benefiting society as a whole.
What is the effect on the when the economy is in decline?
prices rise
