The only way that a society can produce outside the production possibilities curve is
Part 2
A.
to use the concept of opportunity cost.
B.
through economic growth.
C.
by obeying the Law of Increasing Relative Cost.
D.
by producing efficiently.

Outward or inward shifts in the PPF can be driven by changes in the total amount of available production factors or by advancements in technology. If the total amount of production factors like labor or capital increases, then the economy is able to produce more goods at any point along the frontier.

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URuby URuby · Answer 2 · 2022-02-01T10:53:25+01:00

URuby URuby

01-02-2022

The answer is d.
If you produce efficiently (in other words, producing goods with appropriate labour force since a good labour force consists of appropriate knowledge of a certain field of that product and appropriate number of labour.) a society can produce outside the production possibilities curve.

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The only way that a society can produce outside the production possibilities curve is Part 2 A. to use the concept of opportunity cost. B. through economic growth. C. by obeying the Law of Increasing Relative Cost. D. by producing efficiently.

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The only way that a society can produce outside the production possibilities curve is
Part 2
A.
to use the concept of opportunity cost.
B.
through economic growth.
C.
by obeying the Law of Increasing Relative Cost.
D.
by producing efficiently.