Question
What important lesson about economic growth is illustrated when Crusoe and Friday teach themselves to farm and cook in this story? Soon after the arrival
What important lesson about economic growth is illustrated when Crusoe and Friday teach themselves to farm and cook in this story?
"Soon after the arrival of Friday, several books wash ashore on their island. Friday explains to Crusoe that the captain of the ship kept a small library in his cabin, so the books must be from there. One of the books is an encyclopedia about farming. Crusoe and Friday decide to educate themselves about agriculture, and spend their spare time reading the book and learning how to farm. Soon they have cultivated a small vegetable farm by the spring they use for drinking water. One of the other books is a cookbook, which Friday uses to study and practice learning how to cook. Soon they are eating bountiful feasts on their island each day!"
Investments in infrastructure and machinery can create economic growth and a higher standard of living.
Expansion of the labor forcecan create economic growth and a higher standard of living.
Innovations in technology can create economic growth and a higher standard of living.
Improvements in human capital can create economic growth and a higher standard of living.
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