Society can increase its output and income by increasing basically one or both of two factors:
A) its spending and investment.
B) its private and public sectors of the economy.
C) its resources and the productivity of the resources.
D) its markets and prices.

Question

Quizplus · Accepted Answer

Increasing the productivity of resources means getting more output per unit of input, which can lead to an increase in overall output and income for society. Simply increasing spending or investment, or expanding the private or public sectors of the economy, may not necessarily lead to an increase in output and income if resources are not being used efficiently. Similarly, while markets and prices can play a role, they are not the primary drivers of overall output and income growth.

Society Can Increase Its Output and Income by Increasing Basically