Answer to Question #71898 in Macroeconomics for Kelvin E Mercado

Question

The roles of human capital, physical capital and technological change in economic growth?

Answer 1

Human capital is represented by skills and knowledge of economic players, giving the possibility to produce goods and introduce innovations.
Physical capital represents the material basis for the economic activity.
Technological change gives an opportunity to produce goods more efficiently, and therefore, gives advantages in economic growth for producers.