[A nation’s economic prosperity is strongly dependent on the productive capacity of its economy. What are the main factors (or “ingredients”) that determine the productive capacity of a nation’s economy? Are there any limitations to these sources of growth and productivity? (b) We know that technological progress (innovation, ideas, knowledge breakthroughs) can help overcome barriers to economic growth as discussed in Question 2 part (a). Identify two sustainable development goals (SDG’s) and discuss how technological progress can assist in progress towards goal achievement.
Question 2
[We learned in class, that policymakers are interested in bolstering the country’s economic long-term productive capacity, which contributes towards stronger economic prosperity and enhanced social and individual well-being.]
(a) [A nation’s economic prosperity is strongly dependent on the productive capacity of its economy. What are the main factors (or “ingredients”) that determine the productive capacity of a nation’s economy? Are there any limitations to these sources of growth and productivity?
(b) We know that technological progress (innovation, ideas, knowledge breakthroughs) can help overcome barriers to
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