Question

An understanding of the best ways to produce goods and services is called a. productivity. b. technology. c. physical capital. d. human capital.

Answer 1

To produce, we need to measure productivity, Productivity is an understanding of the best ways to produce goods and services.

What is productivity?

Productivity measures how efficient production is relative to amount of goods or service produced.

It usually expressed as the ratio of total output of production to input used.

Therefore, productivity is an understanding of the best ways to produce goods and services.

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