A Production Possibilities Frontier Will Shift Outward If There Is

question 193

True/False

A production possibilities frontier will shift outward if there is an improvement in technology.

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Definitions:

Political Power

The ability to influence or outright control the behavior of people, typically involving the governance of a state, region, or organization.

Ownership of Capital

The possession of capital assets, including tools, buildings, machines, and financial resources, used to produce goods or services.

Social Consciousness

An awareness shared by individuals within a society regarding social issues, injustices, and the need for social change.

Subsidies

Subsidies are financial contributions provided by the government to encourage the production or consumption of a good or service, often to support industries that are considered vital for the national economy.