The Four Fundamental Determinants of Economic Growth Include All of the Following

question 97

Multiple Choice

The four fundamental determinants of economic growth include all of the following EXCEPT:

• A)growth in financial capital
• B)growth in the labour force
• C)growth in physical capital
• D)growth in human capital
• E)technological improvement

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Definitions:

Direct Labour-Hours

The total man-hours expended by workers directly involved in the manufacturing process.

Manufacturing Overhead

All indirect costs associated with manufacturing, such as indirect materials, indirect labor, and other factory-related expenses.

Job-Order Costing

A costing method used to determine the costs associated with manufacturing products individually or in batches, tracking the direct materials, direct labor, and manufacturing overhead per job.

Process Costing

It's an accounting methodology utilized in manufacturing where costs are assigned to products based on the processes they go through, often used for homogeneous items.