Question

Which of the following increases output without requiring more input?

a. land
b. human capital
c. physical capital
d. technological progress

Answer 1

Option d. technological progress

Step-by-step explanation:

The world has been ushered into the period of technological change and advancement known as the fourth industrial revolution or 4IR. For technological work, most of the work has been performed by computers and therefore, there has been an increase in production requiring a minimum labor. For instance, computers are now taking the center stage of the human machine interface. Everything is highly computerized which requires less human resources to operate and control.

Answer 2

Technological progress increases output without requiring more input, whereas land, human capital, and physical capital do require more input.