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How advances in telecommunication and new technology significantly contribute to economic growth over time can effects production possibilities?
Wiki User
∙ 14y ago
Advances in technology and telecommunications greatly impact economic growth. New features are being developed every year that is driving up the price of cell phones, internet speeds, satelitte and digital cable features. Consumer spending is the key to staying out of the recession. Have you noticed how many people have cell phones now as compared to 10 or 20 years ago? The rates are off the charts. This money for phones and other services are always circulating through the economy. It effects production possibilities positively. It gives millions of jobs as well.
Wiki User
∙ 14y ago
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What is the concept of the production possibilities?
Production possibilities is the extent of production in businesses. Production possibilities can change if resources increase within a business. Increasing labor can also change production possibilities.
Where would a point of underutilization appear on a product possibilities graph?
below or to the left of the production possibilities frontier
What line that shows different production possibilities for an economy?
production possibilities frontier
What tool helps a producer set up an efficient system of production?
a production possibilities frontier graph
Where would a point of underutilization appear on a production possibilities?
below or to the left of the production possibilities frontier
Where would a point of under utilization appear on a production possibilities?
below or to the left of the production possibilities frontier
What tool helps producers set up an efficient system of production?
a production possibilities frontier graph
What is a production possibilities graph?
production possibilities graph is a graph that shows alternative ways to use an economy's resources.
Where would a point of under utilization appear on a production possibilities graph?
below or to the left of the production possibilities frontier
How does production possibilities curve differ from production possibilities frontier?
the possibility production curve show production that can be produces using minimum resources whereas the possibilty productive frointer show the attainable levls of production.
What are the effects of discrimination in the production possibilities frontier?
The effects of discrimination in the production possibilities frontier is that a given business does not fulfill its ful potential.
An economy working below its most efficient production levels?
An economy working below its most efficient production levels points inside the production possibilities frontier. This is in the context of a production possibilities curve.
