Question

maggie goes to college and reads many books while at school. her education increases which of the following factors of production?a. human capital b. physical capital c. natural resources d. technology e. all of the answer choices would be increased.

Answer 1

Maggie's college education specifically increases her human capital, which includes skills and knowledge that contribute to her productivity and potential for innovation. While human capital is linked to physical capital and technology, her education directly affects her own abilities and skillsets. Therefore, the correct option is a. human capital.

Step-by-step explanation:

Maggie's college education and the reading of many books would mainly increase her human capital. Human capital encompasses the knowledge, education, training, skills, and health that individuals possess. By enhancing her abilities and skillsets through higher education, she is improving her human capital, which is a key factor of production. This investment in human capital can improve economic growth as it makes a workforce more productive and can lead to technological innovations.

An increase in human capital often requires the use of technology and may result in the creation of new technology, as educated individuals are more likely to innovate. However, the direct impact of Maggie's education is specifically on her own human capital, and not on physical capital or technology itself unless she specifically creates or invests in these areas as a result of her education.