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Identify the factors of production of the following case and differentiate between them. Human factor of production with and without innovative capacity. - Economic Applications

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प्रश्न

Identify the factors of production of the following case and differentiate between them.

Human factor of production with and without innovative capacity.

संक्षेप में उत्तर

उत्तर

  1. Creative problem-solving: Innovative individuals can think critically, creatively, and outside the box. Humans with lack inventive capacity tend to focus on repeating duties inside established frameworks.
  2. Adaptability: Innovative individuals see problems as chances to learn and grow. Humans that lack innovation are hesitant to adjust to changing circumstances. They prefer to complete everyday tasks efficiently and properly.
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Productivity of Land
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