Given the Form of a Typical Production Function, Which of These

question 234

Multiple Choice

Given the form of a typical production function, which of these would have the greatest impact on the output of a country?

• A) The amount of land increases by 12%.
• B) The amount of capital increases by 12%.
• C) The amount of labor increases by 12%.
• D) Entrepreneurial ability/technology increases by 12%.

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Definitions:

Productive Workforce

A group of employees that efficiently achieves high levels of output and contributes significantly to the organization's goals.

Joint Performance

The collaborative efforts of two or more parties to achieve a shared objective.

Peter Drucker

Known as the father of modern management, he was an Austrian-born American management consultant, educator, and author, whose writings contributed to the philosophical and practical foundations of the modern business corporation.

Robert Owen

A leading figure of the early 19th-century social reform movement, known for his efforts to improve working conditions and promote utopian socialism.