2. 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 per Worker |
Natural Resources per Worker |
Physical Capital per Worker |
Technological Knowledge |
|
---|---|---|---|---|---|
The fertile waters in which the fish feed and breed | |||||
A route fishing boats can follow to maximize their catch at different points in the day | |||||
The boats in the fishing fleet | |||||
The skills workers develop through training before working on and piloting boats |
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