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:

Business Proposition

An offer or proposal made by one business to another, detailing how a particular product or service can meet the latter's needs.

FAB Sequences

A sales technique that highlights Features, Advantages, and Benefits of a product to persuade potential customers.

Proof Statements

Sentences or arguments used to validate or support a claim, typically during a debate or a sales pitch to demonstrate benefits or value.

Business Conversation

A dialogue between professionals regarding topics pertinent to their industry, operations, or collaborations.