Productions Possibilities Curve

The more the quality of education in employed (human factors) in the production sector, the more quality products are produced. This implies that as the quality of production increases so is the cost of production since quality education does not come cheap as it can be interpreted on the possibility curve. The aspect of quality education in the employed labor means economic growth, pushing the frontier outward on the possibility curve. As a result, quality education positively affects decision making and interpretation of data or information in the production sector. Decision makers will be able to avail sufficient raw materials and ensuring quality standards of production are observed. New technology This technology has improved the economy through the creation of new jobs, for example, the manpower required to operate the machines, contributing to Gross Direct Product growth, the creation of new business inventions, different companies and services, and workforce transformation.