stock of ________ capital measures the production capacity of a nation
Answers
Answer:
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3. MEASUREMENT OF CAPACITY AND CAPACITY UTILIZATION
Several nations already have developed measures of capacity output based on the physical attributes of the fleet and implemented capacity reduction policies based on these capacity measures. See, for example, Kirkley et al. (2002) for an analysis of five United States-managed fisheries and Walden, Kirkley and Kitts (2003) for analysis of the United States Northeast Groundfish Fishery Buyback Programme. Of primary concern to most fisheries managers is the optimum utilization of the capital employed in the fishery (Kirkley and Squires, 1999). Fisheries managers need to know the fleet size and configuration that achieves the objectives defined by the management plans and policies of their respective nations. These usually equate (implicitly or explicitly) to some target level of output, which is often based on biological concerns. To this end, measurement of the capacity base and capacity output for a fleet or fishery is essential for comparison to these targets, representation of full capacity utilization, and management of capacity.
Answer:
The stock of human capital measures the production capacity of a nation.
Explanation:
Human capital:
- Social scientists refer to personal qualities seen to be helpful in the manufacturing process as "human capital."
- It includes the education, health, and knowledge of the workforce.
- Through education and training, for instance, businesses may invest in human capital, allowing higher standards of quality and output
- Paul Romer, who created the current innovation-driven approach to comprehending economic growth, was jointly awarded the 2018 Nobel Prize for Economics as a consequence of his conceptualization and modeling work incorporating Human Capital as a crucial aspect.
- Human capital is used for understanding and measuring the production capacity of a nation.
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