Economics Chapter 15 (Factors affecting productivity (Labour (New…
Economics Chapter 15
Factors affecting productivity
Fertilisers and pesticides
irrigation (redirecting water sources)
Genetically modified crops
Reclamation of land
Improved working practices
Capital (Financial Assets)
Chemicals and pesticides
Machinery- productivity/efficiency/reduce waste
How can each sector benefit from new technology?
Mechanisation of farming - more efficiency/reduces waste
able to see crops from space to analyse and react accordingly
Industries that produce a finished usable product or construction
new technology means workers can do interesting job
Evolving from labour with the use of new technology
What is productivity?
Productivity is output divided by input. It refers to the volume of of input or resources.
productivity is an efficiency measure
productivity = output per unit divided by input