Which of the following represents a dimension of technological progress?
A) A larger variety of products.
B) Larger quantities of output for given quantities of capital and labour.
C) New products.
D) Better products.
E) All of the above.

Question

Quizplus · Accepted Answer

All the options listed (A larger variety of products, larger quantities of output for given quantities of capital and labour, new products, and better products) represent different dimensions of technological progress. Technological progress can enhance productivity, lead to the creation of new and improved products, and increase the variety of products available in the market.

Which of the Following Represents a Dimension of Technological Progress