The choice of the method of production in an economy is determined by the
-
A.
level of technical know-how -
B.
rate of propulation growth -
C.
availability of natural resources -
D.
level of income
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.