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- According to Adam Smith, which one was not the reason why division of labor increases output? Select one: a. Invention of new machinery. b. Increase labor skills. c. Time-consuming. d. Increase efficiencyWhy is scientific literacy is important? Answer can be related to decision-making, economic productivity, and education. Please answer in paragraph thanksIn economics, How might productivity be measured for each of the following industries ? a. Education(e.g., elementary and secondary education, higher education—undergraduate and graduate) b. Government (e.g., the Social Security Office, the Internal Revenue Service) c. Manufacturing (e.g., soap and toothpaste, computers, heavy machinery) d. Finance and insurance (e.g., banks, insurance companies, brokerage houses)
- What is the difference between Theoretical and Applied Research?What must the academia do in order to improve the Philippines’ standing on innovation? Cite examples of some Philippine higher education institutions having done something concrete on innovation and education.Explain the following concepts and their importance in production process (i) Productivity (ii) Efficiency (iii) Technology
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- Which of the following best describes an entrepreneur?a. A person who works as an office clerk at a major corporationb. A person who combines the factors of production to produce innovative productsc. A special type of capitald. Wealthy individuals who provide savings that stimulates the economyif Hec is ranking different universities of Pakistan on thier performance at national level , such analysis would be example of macroeconomics and microeconomics analysis ? whyWhen the author states thal I anthropologv is comparative what do they mean A. anthropologists compare their own experiences to those of other people by asking them to write accounts of their cultures B. anthropologists compare economic practices but do not consider religious practices C. anthropology by nature involves the comparison of different cultural practices, even if this only means that the researcher IS trying to understand practices based on his/her experience D. anthropologists compare different cultural practices in order to judge which is best