What are the four main factors that affect the output a work

What are the four main factors that affect the output a worker produces?

Solution

The four main factors that affect the output a worker produces are:

1) Wages: Wages are the sole motivation for the workers to work in most cases. Hence, if the wages provided to the workers are high enough, the workers get motivated to work harder and thus becomes more productive. This leads to higher output. Also, higher wages leads to better nutrition for workers which again leads to higher productivity.

2) Capital-labor ratio: The higher is the capital-labor ratio in the economy, the higher is the output that the workers can transform from the given amount of time.

3) Available natural resources: The higher the amount of natural resources available, the higher output a worker can produce given a particular amount of time. If each worker has a significant amount of natural resources, he can independently work to produce higher output.

4) Human Capital: Human capital is a very important part of labor as the greater the skills a worker has , the greater the worker can transform a small amount of time into huge amounts of output, especially by doing work smartly.