Asked by ed thelson Lacombe on May 05, 2024
Verified
The trade-off between the production of one good and the production of another good can change over time because of technological advances.
Technological Advances
Innovations and improvements in technology that enhance efficiency, productivity, and the quality of goods and services.
Trade-Off
The concept of giving up one benefit or advantage in order to gain another regarded as more favorable.
- Investigate the triggers and ramifications of transformations and patterns in the production possibilities frontier.
- Understand the role of technological advances in economic growth and production.
Verified Answer
TA
thumula abhinayMay 11, 2024
Final Answer :
True
Explanation :
Technological advances can improve the efficiency of producing one good relative to another, thus altering the trade-off between producing different goods.
Learning Objectives
- Investigate the triggers and ramifications of transformations and patterns in the production possibilities frontier.
- Understand the role of technological advances in economic growth and production.
Related questions
Production Possibilities Frontiers Can Be Used to Illustrate Scarcity, Trade-Offs ...
A Production Possibilities Frontier Has a Bowed Shape If the ...
Economic Growth Causes a Production Possibilities Frontier to Shift Outward
When a Production Possibilities Frontier Is Bowed Outward, the Opportunity ...
Economists Believe That Production Possibilities Frontiers Rarely Have a Bowed ...