Match each economic growth determinant on the left with its corresponding description or impact on national output on the right.
- Human Capital InvestmentImprovement in worker education, skills, and health to increase labor productivity.
- Technological AdvancementAdoption of modern production techniques and innovation to boost efficiency.
- Capital AccumulationIncrease in the stock of physical machinery, equipment, and factories.
- Infrastructure DevelopmentProvision of public facilities like transportation networks and power grids to support economic activities.
Answer
Human Capital Investment matches with improvement in worker education, skills, and health; Technological Advancement matches with adoption of modern production techniques and innovation; Capital Accumulation matches with increase in the stock of physical machinery, equipment, and factories; Infrastructure Development matches with provision of public facilities like transportation networks and power grids.
Each factor directly drives long-term economic growth by expanding national productive capacity in a distinct manner: human capital enhances labor quality, technological progress improves input efficiency, physical capital expands tool availability, and infrastructure creates the necessary economic framework for commerce.
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Key Concept
Determinants and Factors Affecting Economic Growth