Final answer:
Option (A), Human capital, physical capital, and technology significantly contribute to economic growth. While human and physical capital are important, technology plays a central role in creating new methods of production and driving efficiency improvements, all of which are essential for increasing GDP per capita.
Step-by-step explanation:
To contribute to economic growth, several key elements are necessary. Specifically, factors such as human capital, physical capital, and technology are vital. Human capital signifies the attributes that the workforce gains through education and training, while physical capital refers to the machinery, buildings, and infrastructure that assist in producing goods and services. However, technology emerges as a particularly crucial component, as it encompasses new methods of production, from groundbreaking scientific discoveries to incremental improvements and better management practices.
These three factors do not operate in isolation; rather, they often synergize to enhance productivity. For example, a more educated workforce can more effectively innovate technologically. These innovations, once integrated into new physical capital, like cutting-edge machinery, can further enhance productivity.
Additionally, technological developments may necessitate additional training, contributing to an incremental increase in human capital. Ultimately, the interplay of these factors contributes substantially to economic expansion and, when complemented by strong market environments and supportive public policies, can significantly impact GDP per capita growth.