Economic sense production methods
Evaluate and explain the statements: “In the economic sense production methods are the most efficient methods, once resource prices are considered and are lesser in sense of engineering”.
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In terms of the scarce resources there is some valuable engineering technology which might be too costly that they would occupy. Education can be provided more efficiently by using more labor-intensive methods, i.e., with the teacher at the chalkboard and the student using pencil and paper. In another example, using a shovel to scoop snow may be inferior to a snow blower in the engineering sense, but it may be a more efficient use of resources for the middle- or low-income family who has to decide between buying groceries and using better technology to clean its driveway and sidewalk.
Early in the 18th century, a leading industrialist responded to an advisor of King Louis IV of France, who asked how the crown could most excellent facilitate the world of commerce, along with “Laissez nous faire,” that im
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