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ericayi ericayi
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10 months ago

Roundabout methods of production are said to be productive. What does this mean?



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Goods are best produced by many people working together-as in a circle.



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If you go round and round thinking about something, you will usually come up with the right way to do it-so you minimize on mistakes.



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If you take the most direct route to producing a good, you will save time, and time is something that producers want to save since "time is money."



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If you take time out to produce a capital good, with that capital good you can produce more than you could produce without it.

Textbook 
Economics

Economics


Edition: 12th
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mhmoud123mhmoud123
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10 months ago
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