Question

In how many ways the effective capacity of a resource (or

resource pool) can be increased? Please very briefly explain what
each of those ways are?

Answer 1

The effective capacity of a resource can be increased by increasing the total quantity of the resource or by increasing the amount of human capital possessed by workers.

Step-by-step explanation:

The effective capacity of a resource or resource pool can be increased in several ways:

1. Increasing the total quantity of the resource: This can be done by increasing the number of people available to work or by increasing the average number of hours worked per week.
2. Increasing the amount of human capital possessed by workers: Human capital refers to the skills, knowledge, and abilities that workers possess. By investing in training and education, workers can become more efficient and productive, thereby increasing the effective capacity of the resource.