0
What else can I help you with?
What would happen to marginal and average productivity if a technological innovation were introduced to the production process?
Marginal and Average productivity increases when technological innovations are introduced into production process.
How will a country's production possibilities grow if it invests in technological advancements and infrastructure development?
Investing in technological advancements and infrastructure development can lead to increased efficiency and productivity in a country's economy. This can result in the expansion of a country's production possibilities by enabling the production of more goods and services with the same amount of resources.
A production possibilities frontier can shift inward if there is technological progresstrue or false?
true
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.
What would happen to marginal and average productivity if a technological innovation is introduced to the production process?
In tiwl In tiwl
What would happen to marginal and average productivity if a technological innovation were introduced to the production process?
Marginal and Average productivity increases when technological innovations are introduced into production process.
What has the author Bela Gold written?
Bela Gold has written: 'Evaluating technological innovations' -- subject(s): Technological innovations, Steel industry and trade 'Potentials and limitations of robotics' 'Explorations in managerial economics' -- subject(s): Industrial management, Production (Economic theory) 'Productivity, technology, and capital' -- subject(s): Technological innovations, Industrial productivity
How will a country's production possibilities grow if it invests in technological advancements and infrastructure development?
Investing in technological advancements and infrastructure development can lead to increased efficiency and productivity in a country's economy. This can result in the expansion of a country's production possibilities by enabling the production of more goods and services with the same amount of resources.
What has the author Gerhard Rosegger written?
Gerhard Rosegger has written: 'The economics of production and innovation' -- subject(s): Economic aspects, Economic aspects of Technological innovations, Production (Economic theory), Technological innovations
A production possibilities frontier can shift inward if there is technological progresstrue or false?
true
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.
What would happen to marginal and average productivity if a technological innovation is introduced to the production process?
In tiwl In tiwl
What has the author George M Korres written?
George M. Korres has written: 'Technical change and economic growth' -- subject(s): Economic aspects, Economic aspects of Technological innovations, Economic conditions, Production functions (Economic theory), Technological innovations, Knowledge economy 'Handbook of innovation economics' -- subject(s): Technological innovations, Economic aspects
How does technology increase production possibilities?
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.
How will technological advances affected the production possibilities curve?
Let's briefly explore each one of these and see how they shift the curve. Probably what you hear about most in economics is how changes in technology affect the curve. For example, let's say the country discovers a new technology, such as a new computer system that improves productivity. Anything that improves the productivity of workers is good. This causes output to increase, so the production possibilities curve shifts outward, or to the right. On the other hand, let's say a major war causes destruction of capital equipment in the country. This would cause output to decrease, so in this case, the production possibilities curve shifts inward, or to the left.
What has the author Zvi Griliches written?
Zvi Griliches has written: 'Economies of scale and the form of the production function' -- subject(s): Manufacturing industries, Production functions (Economic theory) 'Practicing econometrics' -- subject(s): Econometrics 'Hedonic price indexes and the measurement of capital and productivity' -- subject(s): Price indexes 'The search for R&D spillovers' -- subject(s): Externalities (Economics), Industrial Research, Research, Research, Industrial 'Technology, education, and productivity' -- subject(s): Economic aspects, Economic aspects of Education, Economic aspects of Technological innovations, Education, Industrial productivity, Labor productivity, Technological innovations 'Patents' -- subject(s): Economic aspects, Economic aspects of Industrial research, Economic aspects of Patents, Industrial Research, Industrial productivity, Patents, Research, Industrial 'Education, human capital, and growth' -- subject(s): Economic aspects, Economic aspects of Education, Education, Human capital
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.
