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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.
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An increase in technology will cause the production possibilities curve to?
shift outward
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.
A nation can increase its production possibilities by?
A nation can increase its production possibilities by improving labor productivity. More industries can be created so as to increase the output level.
A point outside the production possibilities curve represents a combination of goods that is?
A point outside the production possibilities curve represents a combination of goods that is unattainable with the current resources and technology available. It indicates a level of production that exceeds the economy's capacity. In practical terms, achieving such a point would require improvements in efficiency, advances in technology, or an increase in resource availability.
As displayed on a production possibilities curve what will an increase in technology allow a society to do?
An increase in technology allows a society to shift its production possibilities curve outward. This means that the society can produce more goods and services than before, utilizing resources more efficiently. As a result, it can achieve higher levels of output for both consumer and capital goods, leading to economic growth and improved standards of living.
An increase in technology will cause the production possibilities curve to?
shift outward
How does technology affect production possibilities?
Technology increases production per unit of input (either labor or capital). Any increase in technology necessarily increases output per unit of input.
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.
A nation can increase its production possibilities by?
A nation can increase its production possibilities by improving labor productivity. More industries can be created so as to increase the output level.
A point outside the production possibilities curve represents a combination of goods that is?
A point outside the production possibilities curve represents a combination of goods that is unattainable with the current resources and technology available. It indicates a level of production that exceeds the economy's capacity. In practical terms, achieving such a point would require improvements in efficiency, advances in technology, or an increase in resource availability.
A country's production possibilities increase because the available workers become more skilled at using computers. this is an example of growth caused by?
technology -grad point
As displayed on a production possibilities curve what will an increase in technology allow a society to do?
An increase in technology allows a society to shift its production possibilities curve outward. This means that the society can produce more goods and services than before, utilizing resources more efficiently. As a result, it can achieve higher levels of output for both consumer and capital goods, leading to economic growth and improved standards of living.
What does a country production possibilities depend on?
It depends on available resources and technology
What does a countries production possibilities curves depend on?
It depends on available resources and technology
What type of growth is exemplified when a countrys production possibilities increase because the available workers become more skilled at using a computer?
your fak lol .l.
Increases in resources or improvements in technology will cause the production possibilities frontier to?
shift outward
How does the production possibilities frontier move?
additional resources or new technology become available
