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Technology increases production per unit of input (either labor or capital). Any increase in technology necessarily increases output per unit of input.

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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.


How did the industrial revolution affect businness?

Nova Net Answer: New technology made production efficient.


What effects does increased technology have on the production possibilities curve?

It shifts to the rightIt will have an affect only if the resource increases as well. Technology increases production per unit of input. Any technology involved necessary increases output per unit of input.


How does technology affect factors of production?

technology greatly affect FOP, the main factor is that it reduces the need of the Labor an important FOP. also it contribute alot towards the capital ie made made resources


Demonstrate how people and companies can use technology to reduce production of waste and reduce the use of resources.How do these actions affect the environment?

People and companies can use technology to reduce production of waste and reduce the use of resources by dumping the waste and crushing it up.


What would NOT increase gross domestic product?

In most economic theory, the basic production function (or GDP) is represented by a Cobb-Douglas function (Y = KaALB). Where: Y = GDP K = the capital stock L = labour supply A = level of technology a and B = proportion of capital and labour usage in production Following this basic formula, anything that does not affect the level of capital production, labour supply, or technology would not affect production.


How might society affect science when it comes to developing oil-based technology?

Society depends on oil production, so science can be useful when it comes to developing an oil based technology. Planning ahead can help scientists discover and alleviate problems with oil production,


What are the four families of technology?

Communication Technology Production Technology Transportation Technology Bio Technology


How might society affect science when it comes to developing oil based technology?

Society depends on oil production, so science can be useful when it comes to developing an oil based technology. Planning ahead can help scientists discover and alleviate problems with oil production,


How does technology production affect district three in the Hunger Games?

by getting electrucuted while they work and losing almost all the power they have to give it to the capit


. How did the Industrial Revolution affect business?

New technology made production efficient It also brought conflicts like competiton with other nations which lead to Imperialism.


What is an example of lower production costs brought about by the use of technology?

what is an example of lower production costs brought about by technology