Question

which of the following statements about a knowledge economy are true? (check all that apply.) multiple select question. effective management of knowledge workers helps create wealth. intellectual capital is more heavily valued than physical and financial resources. wealth is created primarily by the efficient control of physical and financial assets. investment in knowledge workers means investment in physical resources is completely unnecessary.

Answer 1

In a knowledge economy, managing knowledge workers effectively is key to wealth creation, and intellectual capital is highly valued. However, physical capital investment remains necessary as it complements the human capital and enables the practical application of knowledge and innovation.

Step-by-step explanation:

When discussing the knowledge economy, it's important to recognize that intellectual capital is increasingly valued over physical and financial resources. The efficient management of knowledge workers is crucial to creating wealth, as their expertise and innovation can significantly impact economic performance and growth.

However, the notion that investment in knowledge workers eliminates the need for investment in physical resources is incorrect; both types of investments are necessary as they often complement each other. Physical capital, such as new machines and technology, requires a skilled labor force to operate effectively and can lead to increased production and economic expansion. Furthermore, a well-educated and competent workforce can result in higher productivity and contribute meaningfully to the economy.