GyanGramThe substitution of steel for wooden ploughs in agricultural production is an example of
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The substitution of steel for wooden ploughs in agricultural production is an example of
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• Correct Answer: B
• Substituting wooden ploughs with steel ones upgrades capital equipment, making it more durable and productive.
• It increases the efficiency of capital goods in agricultural production, classifying it as capital-augmenting technological progress.
• A, C, D are wrong: it is not labour-augmenting or capital-reducing; it enhances capital productivity.
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