Chapter 7R, Problem 7MCQ

To determine

To find:

Role of natural resources in productivity growth.

Answer to Problem 7MCQ

Option E is correct.

Explanation of Solution

Achieving the necessary efficiency and making adequate use of natural resources enables their sensible utilization, which boosts production. Natural resources have a substantial impact on worker productivity, particularly in businesses whose location is influenced by climate (soil composition, raw materials, transport, availability of appropriate staff, etc.)

Economics Concept Introduction

Economic growth is a value of goods and services that are calculated over a period of time according to the current price level.