Answer Expert Verified the one that results from the mobility of production that characterizes the current global economy would be: outsourcing.
What is meant by mobility of factors of production?
Factor mobility. refers to the ability to move factors of production—labor, capital, or land—out of one production process into another. Factor mobility may involve the movement of factors between firms within an industry, as when one steel plant closes but sells its production equipment to another steel firm.
What is meant by mobility of economic resources?
Economic mobility is the ability of an individual, family or some other group to improve (or lower) their economic status—usually measured in income. Economic mobility is often measured by movement between income quintiles.
How the economic development of country depends on its environment?
Availability of natural resources and its proper utilization are considered as an important determinant of economic development. However, an economy having deficiency in natural resources is forced to depend on foreign country for the supply of minerals and other raw materials in order to run its industry.
Which factors of production have more mobility?
LAbour
LAbour has the highest mobility, hence migrating from one place to another is very common.
How does Geographical labor mobility relate to economics?
Geographical labor mobility refers to the level of freedom that workers have to relocate. Economics is a branch of social science focused on the production, distribution and consumption of goods and services. Labor market flexibility is an important part of the labor market.
Why is geographic mobility not a purely economic matter?
Obtaining geographic mobility is not a purely economic matter. It can also be an issue of state sovereignty and government control. After all, governments are also concerned with security, and completely open borders mean governments are not sure who or what is coming into their countries.
How does the World Economic Forum measure social mobility?
The World Economic Forum has created a new index to measure social mobility, providing a much-needed assessment of the current state of social mobility worldwide. What is social mobility? The headline finding of the report is that most economies are failing to provide the conditions in which their citizens can thrive, often by a large margin.
How is the production of goods and services related to economics?
Economics is about the production of goods and services which requires the allocation of what Resources In an economic system decisions need to be made about productive resources and which of the following Allocation Which of these government policies pursues economic goal of equity Providing welfare benefits
