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question 2 What is the most important factor which contributes to competitiveness? productivity or output per...

question 2

What is the most important factor which contributes to competitiveness?

productivity or output per worker hour.

government regulations.

tariffs and quotas

restrictions on investment flows
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Answer #1

The ability to utilize available resources is the key to efficiency in production. This efficiency is ensured by improvement in productivity and output per worker hour. The higher the level of productivity and out per worker hour, more is the optimal and efficient utilization of resources. This efficiency in production and resource utilization provides the edge to the firm over other firms and contributes to the competitiveness. Thus, option 1, productivity or output per worker hour is correct.

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