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To satisfy the whole Economy's needs and wants with the use of scarce resources, and because Productivity applies to all factors of production.
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Explain why economists argue that productivity is important?
The higher the productivity , the higher the living standard of the country. It also contributes in growth in output and income of the country.
What are the elements of productivity and how is it increased?
The elements of productivity include: * Physical capital:human made resources such as tools, buildings, machines * Human capital:labour force that possesses skills, education, training * Technology:the technical means for the production of goods and services. It is the most important driver of productivity according to some economists. It involves not only major inventions but thousands of small innovations. Productivity may be increased by increasing the physical capital, human capital or technology. Note that there is a term called Diminishing Returns to Physical Capital- which means successive increases in physical capital lead to smaller increases in productivity.
Why are economists important to a country?
i am notsure but i think it has something to do with your family so :)
What is system productivity?
system productivity is a very important function for improving productivity in any unit. we can say with the help same input using we can maximize our output or productivity
Why is productivity important to economic growth?
because the better the productivity the better the nations economic growth.
Explain why economists argue that productivity is important?
The higher the productivity , the higher the living standard of the country. It also contributes in growth in output and income of the country.
What are the elements of productivity and how is it increased?
The elements of productivity include: * Physical capital:human made resources such as tools, buildings, machines * Human capital:labour force that possesses skills, education, training * Technology:the technical means for the production of goods and services. It is the most important driver of productivity according to some economists. It involves not only major inventions but thousands of small innovations. Productivity may be increased by increasing the physical capital, human capital or technology. Note that there is a term called Diminishing Returns to Physical Capital- which means successive increases in physical capital lead to smaller increases in productivity.
What is system productivity?
system productivity is a very important function for improving productivity in any unit. we can say with the help same input using we can maximize our output or productivity
Why are economists important to a country?
i am notsure but i think it has something to do with your family so :)
Why is productivity important to economic growth?
because the better the productivity the better the nations economic growth.
Is productivity important?
Because it is very productive
Why productivity is important?
Because it is very productive
What is Labor Productivity and how is it important to economic growth?
Labour productivity is defined by the OECD to be "the ratio of a volume measure of output to a volume measure of input" OECD Manual: "Measuring Productivity; Measurement of Aggregate and Industry-Level Productivity Growth. Labour productivity is important to economic growth because without it no one would be working.
Is it true that Individual productivity is more important than group productivity?
HECK YES! lead and they will follow..
What is the important of immogration?
For the economy, it was a boost for labor productivity
Why communication is important in civilization?
The use and the productivity of cellphones.
Which of the following are important assumptions that economists make when developing theories?
Ceteris paribus and self-interest
