Society can increase its output and income by increasing basically one or both of two factors:

Question

Quizplus · Accepted Answer

Increasing society's resources and the productivity of those resources (such as through technological advancements or education) allows for greater output without necessarily increasing spending or investment or expanding the private and public sectors of the economy. This leads to sustainable economic growth and development. A and B may also contribute to increasing output and income, but they are not always feasible or desirable in all situations. D is not a factor that directly increases output and income, but rather reflects the state of the market.

Society Can Increase Its Output and Income by Increasing Basically