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Economics Chapter 15 (Factors affecting productivity (Labour (New…
Economics Chapter 15
Factors affecting productivity
Land
Fertilisers and pesticides
drainage
irrigation (redirecting water sources)
Genetically modified crops
Reclamation of land
Labour
New Technology
Improved working practices
Motivation
Migration
Training
Capital (Financial Assets)
Chemicals and pesticides
Machinery- productivity/efficiency/reduce waste
How can each sector benefit from new technology?
PRIMARY SECTOR
Mechanisation of farming - more efficiency/reduces waste
able to see crops from space to analyse and react accordingly
SECONDARY SECTOR
Industries that produce a finished usable product or construction
new technology means workers can do interesting job
TERITARY SECTOR
Evolving from labour with the use of new technology
services
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