Without an Increase in the Supplies of Factors of Production

question 25

Multiple Choice

Without an increase in the supplies of factors of production, how can a nation achieve economic growth?

• A) by producing more high-value goods and less of low-value goods
• B) through technological advancement which enables more output with the same quantity of resources
• C) by lowering the prices of factors of production
• D) by increasing the prices of factors of production

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Definitions:

Cognitive-moral Education

An approach in education that focuses on the development of ethical thinking and moral reasoning skills.

Moral Reasoning

The process of determining right from wrong in a logical, systematic way, often based on ethical principles.

Democracy

A form of government in which power is vested in the people and exercised by them directly or through freely elected representatives.

Justice

The moral or legal principle of fairness and equity, where individuals receive what they are due or deserve.