A Key Difference Between Human Capital and Technology Is That

question 37

Multiple Choice

A key difference between human capital and technology is that ________.

• A)human capital is excludable
• B)human capital is nonrival
• C)scarce resources are used in the production of human capital
• D)technology is an input in the production of new technology

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Definitions:

Marginal Benefit Element

The heightened sense of satisfaction or value realized by a consumer upon acquiring another unit of a good or service.

Expected-Rate-of-Return-Curve

A graphical representation showing the range of possible outcomes for the return on an investment and their associated probabilities.

Law of Diminishing Returns

An economic principle stating that if one factor of production is increased while others are held constant, the overall return will eventually decrease after a certain point.

Financing R&D

The process of providing funds for research and development activities, typically to develop new products, services, or technologies.