Respuesta :
If there are no unemployed resources and the economy is operating within and/or outside the production possibilities frontier.
How can an economy increase production of both goods?
The simplest way to show economic growth is to bundle all goods into two basic categories, consumer and capital goods. An outward shift of a PPF means that an economy has increased its capacity to produce.
Under what conditions is it possible to increase production of one good without decreasing production of another good?
An economy can produce more of one good without sacrificing production of another good if it is operating inside its PPF
What factors could lead to economic growth?
There are three main factors that drive economic growth: Accumulation of capital stock. Increases in labor inputs, such as workers or hours worked. Technological advancement.
What makes an economy more productive than others?
First, the amount of capital the firms employ; second, the importance of education and, third, the differences in the underlying efficiency with which the firms operate.
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