The determinants of productivity consider simple economy

Assignment Help Business Economics

Reference no: EM131172726

The determinants of productivity Consider a simple economy whose only industry is fishing. In this industry, productivity—the amount of goods and services a worker can produce per hour—is measured by the number of fish one fisherman catches per hour. In the following table, match each example to the productivity determinant it represents. Examples Human Capital Natural Resource Physical Capital Technological Knowledge The skills workers develop through training before working on and piloting boats A route fishing boats can follow to maximize their catch at different points in the day The boats in the fishing fleet The fertile waters in which the fish feed and breed Grade It Now Save & Continue Continue without saving

Reference no: EM131172726

Questions Cloud

Explain thompsons levels of interdependence : Explain Thompson's levels of interdependence.- What is the level of interdependence among departments (finance, marketing) in a business school?

Fraught with legal complications : Sales promotions are expensive to administer and can be fraught with legal complications. Sales promotions yield their most positive results when carefully integrated with the overall advertising plan.

Do you think the project should be accepted : Define payback period. Assume the company has a P/B (payback) policy of not accepting projects with life of over 3 years. Do you think the project should be accepted? Why?

Describe how the economic theories deepened your thinking : Briefly summarize and describe how the economic theories and principles you have studied in this course have deepened your thinking about economic behavior.

The determinants of productivity consider simple economy : The determinants of productivity Consider a simple economy whose only industry is fishing. In this industry, productivity—the amount of goods and services a worker can produce per hour—is measured by the number of fish one fisherman catches per hour.

Compute the volume flow rate through the meter : Compute the volume flow rate through the meter that will cause the mercury to flow into the throat. Note that for a given manometer deflection h, the left side will move down h/ 2 and the right side would rise h/2.

Compute the total cost of the potential job : Compute the total cost of the potential job using machine hours to assign overhead. Assume that the bid price is based on full manufacturing cost plus 25% mark up. What is Tom's bid price?

Analyze implications of changes in project scheduling : Determine the expected completion time and the variance for each activity, Determine the total project completion time and the critical path for the project and Determine Early Start (ES), Early Finish (EF), Late Start (LS), and slack for each activi..

Two products-safe cars and dangerous cars : Theres two products: "safe cars" and "dangerous cars"

User Account

All Pages