Technological progress is affected by (check all that apply) a. population growth b. new software developments c. investment in capital d. private property rights e. entrepreneurship

Entrepreneurship exists in the process of discovering new ways of combining resources. When the market value generated by this new variety of resources is greater than the market value these resources can cause elsewhere individually or in some other assortment, the entrepreneur makes a profit.

Entrepreneurship stands for the creation or extraction of economic value. With this definition, entrepreneurship is viewed as change, generally entailing risk above what is normally experienced in starting a business, which may contain other values than simply economic ones. Population growth stands for the increase in the number of individuals in a population or dispersed group.

Property rights have evolved over ancient and modern history, from Abrahamic law to today's Universal Declaration of Human Rights article 17. Property rights can be comprehended as constructs in economics for resolving how a resource or economic good exists used and is owned.

Technological progress guides the discovery of new and improved methods of producing goods. Differences in technology lead to an increase in the productivity of labor, capital, and other factors of production. Technology guides the process through which inputs exist transformed into outputs.

Hence, Technological progress is affected by,

a. population growth

c. investment in capital

d. private property rights

e. entrepreneurship

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