How does growth occur via improved quality of factors of production?
Growth via improved quality of factors of production requires an investment in key resources of the economy such as,
Capital Goods: the greater the level of investment, the higher economic growth tends to be.
Education and training: if the workforce is trained better and more educated the workforce will become more productive.
Health technology: health care helps ensure the health of the workers and a healthy workforce is likely to be more productive. this can also prevent workers from taking time off or retire because of their illness.
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