Which of the following best reflects the role played by productivity in determining the value that...
Which of the following best reflects the role played by productivity in determining the value that a location adds to a certain economic activity?
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Productivity is a minor factor in determining the value that a location adds to an activity. |
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Productivity is the most important factor in determining the value that a location adds to an activity. |
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Productivity is a very important factor in determining the value that a location adds to an activity. |
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Productivity is the only factor in determining the value that a location adds to an activity. |
Homework Answers
Option C.
- Productivity is a very important factor in determining the value that a location adds to an activity.
- Even though it is not the only factor which determines the value added by a location, it is still considered as a very important factor.
- This is because productivity includes the two most important determinants, they are labour and capital.
- These two determinants contribute in determining the value that a land adds to an activity.
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