Question

As displayed on a production possibilities curve, what will an increase in technology allow a society to do? a. Produce more, as long as the resources are also available. c. It will not affect society’s production. b. Produce less, because more resources are spent on developing technology. d. The society will spend more on the same level of production.

Answer 1

The correct answer is A) produce more, as long as the resources are also available.

As displayed on a production possibilities curve, an increase in technology will allow a society to produce more, as long as the resources are also available.

A production possibilities graph is a valid representation of the available ways an economy is able to use the resources. In this case, an increase in technology will allow a society to produce more, as long as the resources are also available means that as long there are enough resources in the market, technology in a country helps with the production of more things to be consumed or traded.  

Answer 2

As displayed on a production possibilities curve, an increase in technology allow a society to produce more, as long as the resources arealso available