Labor productivity-Average product of labor for an entire industry or for the economy as a whole. Stock of capital-Total amount of capital available for use in production. Technological change-Development of new technologies allowing factors of production to be used more effectively. • Labor productivity-Average product of labor for an entire industry or for the economy as a whole. • Stock of capital-Total amount of capital available for use in production. • Technological change-Development of new technologies allowing factors of production to be used more effectively