4- draw a ppc with no labels. show economic growth. 5- explain 3 factors that would cause this economic…

Brief Explanations:

For question 4, a Production - Possibility Curve (PPC) is a graphical representation of the maximum combinations of two goods that an economy can produce given its resources and technology. Economic growth on a PPC is shown by an outward shift of the curve. For question 5, three factors causing economic growth are: 1) Increase in the quantity of resources like more labor or capital. This allows for more production. 2) Technological progress which makes production more efficient. 3) Human capital development where workers become more skilled, increasing productivity.

Answer:

4. Draw a bowed - out curve (the PPC). Then draw a new curve outside the original one to show economic growth.

• Increase in quantity of resources
• Technological progress
• Human capital development