Under what conditions would we expect to find the greatest growth of output and employment in a specific industry?

Question

Quizplus · Accepted Answer

High productivity growth allows for more efficient production and therefore increased output and employment. Price-elastic product demand means that the industry can respond to changes in demand by adjusting prices, which could increase sales and employment. Income-elastic product demand means that as incomes rise, demand for the industry's products will also rise, contributing to increased output and employment.

Under What Conditions Would We Expect to Find the Greatest