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Suppose that surplus labor in a Pakistani village is used to build a medical clinic and dig several wells. This is an illustration of
A) foreign aid.
B) capital-saving investment.
C) in-kind investment.
D) technological advance.
Surplus Labor
The portion of the labor force that exceeds the amount of labor needed to produce a given level of output, often leading to unemployment.
Capital-Saving Investment
Investments made to increase efficiency or reduce the capital required for production without reducing output.
Technological Advance
It refers to the development and application of new technologies and innovation, which can improve efficiency, productivity, and capabilities in various sectors.
- Attain knowledge of the influences on economic development, such as the aspiration to evolve and the assortment of investment methodologies.
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Learning Objectives
- Attain knowledge of the influences on economic development, such as the aspiration to evolve and the assortment of investment methodologies.
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