Give a Definition of an Advance in Technology

question 96

Essay

Give a definition of an advance in technology.Suppose that you are drawing a PPF for civilian goods and military goods,describe the effect on the PPF of an advance in technology in both civilian goods and military goods.How would the impact on the PPF be different if the technological improvement only helped in the production of military goods,but not civilian goods?

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Definitions:

Health Care Coverage

Insurance that pays for medical expenses and sometimes dental expenses.

Family Stability

A condition of consistent family structure and positive, supportive interactions among family members.

Three-Generation Household

A living arrangement consisting of three generations of family members, such as grandparents, parents, and children, living together.

Financial Stability

The condition of having steady financial resources and security, which supports the ability to absorb shocks without major distress.