The Substitution of Steel for Wooden Ploughs in Agricultural Production is an Example of

  1. Labour-augmenting technological progress
  2. Capital-reducing technological progress
  3. Capital-augmenting technological progress
  4. None of the above
Monis Rasool Professor Asked on 26th August 2015 in Technology.
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Answer : (3) Capital – augmenting technological progress

The substitution of steel for wooden ploughs in agricultural production is an example of Capital-augmenting technological progress.

Anurag Mishra Professor Answered on 27th August 2015.
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