Question

What would be the BEST way a country can develop more economic growth within 5 years as represented by the outward movement of the production possibilities curve?

Answer 1

The Frontier of Production Possibilities can be displaced, that is, the unattainable points can be reached. This displacement may be due to technological improvements, an increase in capital, an increase in workers or the discovery of new natural resources.

Therefore, to develop an economic increase in five years, the country must work on its technological means of production, it must improve its production systems and work in them, another activity to carry out is to work on the nation's human capital, prepare them and improve their education so that they are prepared for the new production processes.