3. The determinants of productivity Consider a simple economy whose only industr

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3. The determinants of productivity 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. Examples Human Capital Natural Resource Physical Capital Technological Knowledge The skills workers develop through training before working on and piloting boats A route fishing boats can follow to maximize their catch at different points in the day The boats in the fishing fleet The fertile waters in which the fish feed and breed Grade It Now Save & Continue Continue without saving

Explanation / Answer

Human Capital - The skills workers develop through training before working on and piloting boats

Natural Resource - The fertile waters in which the fish feed and breed

Physical Capital - The boats in the fishing fleet

Technological Knowledge - A route fishing boats can follow to maximize their catch at different points in the day

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