1. Improvements in technology. 2. Increases in the supply (stock) of capital goods. 3. Purchases of expanding output. 4. Obtaining the optimal combination of goods, each at least-cost production. 5. Increases in the quantity and quality of natural resources. 6. Increases in the quantity and quality of human resources. Which set of items in the accompanying list would shift an economy's production possibilities curve outward?

Question

Business

Summer Moyer

10 October, 13:29

1. Improvements in technology. 2. Increases in the supply (stock) of capital goods. 3. Purchases of expanding output. 4. Obtaining the optimal combination of goods, each at least-cost production. 5. Increases in the quantity and quality of natural resources. 6. Increases in the quantity and quality of human resources. Which set of items in the accompanying list would shift an economy's production possibilities curve outward?

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Answers (1)

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Lennon · Answer 1

The answers are,

1. Improvements in technology

5. Increases in the quantity and quality of natural resources. 6. Increases in the quantity and quality of human resources

Explanation:

To shift the production possibility frontier outwards, the entire production capability of the economy has to increase. For this, recognition of new resources, enhancement of human capital and production techniques and the improve in technology has to happen.