The choice of the method of production in an economy is determined by the
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Correct Answer: Option A
Explanation:
The method of production has to do with Processes and techniques that are used to manufacture a product. The preferred production method used in production is mainly determined by the level of technological advancement of the firm or industry as a whole. For an economy that is embracing technological changes and advancements, the technical know-how will greatly influnce the production technique.
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The method of production has to do with Processes and techniques that are used to manufacture a product. The preferred production method used in production is mainly determined by the level of technological advancement of the firm or industry as a whole. For an economy that is embracing technological changes and advancements, the technical know-how will greatly influnce the production technique.
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