Consider a simple economy whose only industry is fishing. In this industry, productivity-the amount of goods and services a worker can produce per hour-is measured by the number of fish one fisherman catches per hour. In the following table, match each example to the productivity determinant it represents. Natural Human Capital per Worker Physical Capital per Worker Technological Resources per Worker Examples Knowledge The skills workers develop through training before working on and piloting boats The fertile waters in which the fish feed and breed An advanced mapping system that determines the likelihood of finding fish schools in different depths and locations The boats in the fishing fleet
Consider a simple economy whose only industry is fishing. In this industry, productivity-the amount of goods and services a worker can produce per hour-is measured by the number of fish one fisherman catches per hour. In the following table, match each example to the productivity determinant it represents. Natural Human Capital per Worker Physical Capital per Worker Technological Resources per Worker Examples Knowledge The skills workers develop through training before working on and piloting boats The fertile waters in which the fish feed and breed An advanced mapping system that determines the likelihood of finding fish schools in different depths and locations The boats in the fishing fleet
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Consider a simple economy whose only industry is fishing. In this industry, productivity is measured by the number of fish one fisherman catches per hour.
In the following table, match each example to the productivity determinant it represents.
Transcribed Image Text:Consider a simple economy whose only industry is fishing. In this industry, productivity-the amount of goods and services a worker can
produce per hour-is measured by the number of fish one fisherman catches per hour.
In the following table, match each example to the productivity determinant it represents.
Natural
Physical
Capital per
Worker
Technological
Knowledge
Human Capital
Resources per
Worker
Examples
per Worker
The skills workers develop through training before
working on and piloting boats
The fertile waters in which the fish feed and breed
An advanced mapping system that determines the
likelihood of finding fish schools in different depths
and locations
The boats in the fishing fleet
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