factors that determine a country’s total factor productivity

factors that determine a country’s total factor productivity

There are several important factors that determine a country’s total factor productivity, the source of sustained increases in labor productivity; which then also increases the standard of living. There are the five factors that determine total factor productivity. This includes:

1. Research and development and the Level of Technology
2. Quality of Labor
3. Government and Social Institutions
4. Geography
5. The Financial System

In your own words, please provide a short sentence of the examples of each total factor productivity.