Which of the following is likely to affect the position and shape of society's production possibilities frontier?
A)volume of physical resources
B)level of labor skills
C)level of technology
D)amount of factories on hand
E)All of the above are correct.

Question

Which of the following is likely to affect the position and shape of society's production possibilities frontier?
A)volume of physical resources 
B)level of labor skills 
C)level of technology 
D)amount of factories on hand 
E)All of the above are correct.

Quizplus · Accepted Answer

All of the variables listed (volume of physical resources, level of labor skills, level of technology, and amount of factories on hand) can affect the position and shape of society's production possibilities frontier. An increase in physical resources can shift the frontier outward, while an improvement in technology or labor skills can lead to a movement along the frontier and the ability to produce more efficiently. The number of factories can also impact production capacity, thus the position of the frontier.

Which of the Following Is Likely to Affect the Position