The substitution of steel for wooden ploughs in agricultural production is an example of:

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CollectorBabu · Accepted Answer

Correct Answer: capital-augmenting technological progress. Technological progress in a sector can only be related to either labour or capital augmentation. Capital is basically the backbone of machinery or capital goods (which are used to produce other goods). Labour augmenting technological progress takes place when labour skills are upgraded through training or instructions. Capital augmenting technological progress is required for a more productive application of capital goods, which can be substitution of steel for wooden ploughs which helps in bringing efficiency in agricultural production.

The substitution of steel for wooden ploughs in agricultural production is an example of:

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