Technology increases production possibilities by enhancing efficiency and productivity in manufacturing processes, allowing for more output with the same input. Innovations can streamline operations, reduce waste, and improve quality, which leads to better resource utilization. Additionally, advancements in technology can create new products and markets, further expanding the overall capacity of an economy to produce goods and services. As a result, the production possibilities frontier shifts outward, indicating a greater potential for economic growth.
shift outward
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.
A nation can increase its production possibilities by improving labor productivity. More industries can be created so as to increase the output level.
It depends on available resources and technology
additional resources or new technology become available
shift outward
Technology increases production per unit of input (either labor or capital). Any increase in technology necessarily increases output per unit of input.
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.
A nation can increase its production possibilities by improving labor productivity. More industries can be created so as to increase the output level.
technology -grad point
It depends on available resources and technology
It depends on available resources and technology
additional resources or new technology become available
shift outward
your fak lol .l.
must be producing along the production possibilities curve.
shift outward