Under what circumstances does labor productivity grow?

Q: Is Income determined by the Scarcity of Your Contribution, and Not the Value of Human Worth?

A: ANSWER Scarcity refer to the basic economic problem- the gap between limited resources and limitless…

Q: How does family close ties affect economic development?

A: The extended family system is referred to as "close family ties." It's a family system in which…

Q: Factors of production

A: The final goods and services served in the market for the consumers. There are some factors that use…

Q: Can the retained earnings be reinvested in the business? How?

A: Profit:The portion of total revenue that remains after reducing the total costs is known as profit.…

Q: How can Theory of Economic Development promote businesses to perform better?

A: Economic development: It refers to the strategies that deal with the development process of the…

Q: What explains the British industrial revolution?

A: Revolution is referred to as an economic activity that leads to making large variations in the…

Q: What is the age structure of a population? How does it affect population growth and economic growth?

A: *Answer:

Q: What is the effect of urban migration on the economic development of a country?

A: Urban migration is the process of workers or laborers moving from rural areas to urban areas or…

Q: Does productivity has direct influence on a nation's living standards?

A: Answer: Productivity: productivity refers to the output produced per unit of input. If there is only…

Q: What is economic transition

A: A transitional economy is moving from a planned economy to one with a market economy framework.

Q: Economic theory suggests that we can increase productivity by

A: In economic theory, productivity refers to the output being produced given the input level.

Q: What is the difference between “organisation” and “institution”? Is one more important than the…

A: An organization is used to mean a bunch of individuals, engaged in chasing the planned goals or set…

Q: hy my country is poor?

A: Poverty is a situation or situation where an individual or community lacks financial resources and…

Q: What are the effects of an increase in labor productivity on potential GDP, the quantity of labor,…

A: Gross Domestic Product is the total amount of goods and services that an economy can produce within…

Q: How does division of labor improve standard of living?

A: ‘standard of living’ is the quality of life that a person is living. it depends on many factors,…

Q: How does the labor market and workforce dynamics, including skills shortages, talent mobility, and…

A: The labor market refers to the interaction between employers and workers in the process of buying…

Q: improvement in the productivity of labor will tend

A: The productivity of labor refers to the number of goods and services produced by the labor at a…

Q: Outline the main factors which determine the level of productivity in a country

A: Productive of a country is determined by the level of goods and services manufactured in the…

Q: What is capital and enlist the types

A: Meaning of Capital: The term capital under financial institution refers to the situation when an…

Q: How do the economic sectors differ?

A: Economic sectors refers to various different sectors of the economy each dealing with different…

Q: What is the best economic system?

A: Capitalism is an economic system in which the production and distribution are privately owned, the…

Q: What is Capital in terms of business?

A: The use of the word 'capital' in business is often different from the colloquial usage of the word.…

Q: How does the division of labor increase productivity?

A: According to Adam Smith Division of labor is the concept where the task is divided in to different…

Q: Is entrepreneur and entrepreneurship the same?

A: Entrepreneurs play an important role in economic development as a catalyst in the process of…

Q: What is the earliest human being

A: Hominids were the earliest human-like species, and homo sapiens is a member of this group. Hominids…

Q: Why does an increase in the labor force cause the Market Productivity of Capital to increase?

A: Marketing productivity is a measure of the profit responsiveness by segment to different levels of…

Q: What factors contribute the most to economic growth?

A: To manufacture goods and services, you'll need resources. However, in terms of the demands and…

Q: What is the Demand growth rate?

A: Economic growth can be defined as growth in the output of total goods and services produced in an…