Technological advance increases productive efficiency by giving society a more preferred mix of goods.

Name: Technological advance increases productive efficiency by giving society a more preferred mix of goods.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Technological advance primarily increases productive efficiency by allowing more output to be produced with the same amount of inputs, rather than by changing the mix of goods produced, which is determined by consumer preferences and resource allocation decisions.

Technological Advance Increases Productive Efficiency by Giving Society a More