Multiple Choice
Which of the following lists correctly identifies the four factors of production in economics?
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0. Basic Principles of Economics
Factors of Production
Multiple Choice
Which of the following is a way a nation's government can invest in human capital?
A
Subsidizing agricultural production
B
Imposing price controls on consumer goods
C
Increasing tariffs on imported goods
D
Providing access to quality education and training programs
Verified step by step guidance1
Understand the concept of human capital, which refers to the skills, knowledge, and experience possessed by individuals that contribute to their economic productivity.
Recognize that investing in human capital involves actions that improve the education, health, and training of the population, thereby enhancing their abilities and productivity.
Evaluate each option to see if it directly improves the skills or knowledge of the workforce: Subsidizing agricultural production supports a sector but does not directly enhance human skills.
Consider that imposing price controls or increasing tariffs are economic policies that affect markets and trade but do not directly invest in people's education or training.
Identify that providing access to quality education and training programs is a direct investment in human capital because it improves the workforce's capabilities and future productivity.
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