If a Country Is Producing Efficiently and Is on the Production

question 229

True/False

If a country is producing efficiently and is on the production possibilities frontier,the only way to produce more of one good is with an advance in technology.

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Definitions:

Technically-Skilled Workers

Employees who possess specialized technical skills, often relating to a specific field or technology, enabling them to perform complex tasks efficiently.

BRIC Country

Refers to Brazil, Russia, India, and China, which are four fast-growing developing economies with significant influence on global markets.

Contractual Agreements

Formal, legally binding agreements between two or more parties that specify the terms and conditions of their relationship or transaction.

Expanded Globally

refers to the process of a business extending its operations, products, or services beyond its original country, reaching international markets.