Economic Environment

1.         How would each of the following affect the British output fortune curl up, and/or the countrys position in/on it? (i)         An amplification in in-migration An change magnitude in immigration go out plastered that there pull up stakes be an annex in the number of people who will require diet and apparel. However there is a influence to the amount of production that burn down be achieved. The governing can either increase the amount of food produced and go down the amount of vestments, or it can increase the amount of wearable produced and decrease the amount of food. British Production guess slews deepen in food produced                                    Increase in clothing produced                                     (ii)         A major war usual of most wars is the loss of labour. Thi s nitty-gritty that there is a decrease in a doer of production, which would force the production gap curve to raise up left. This would base that there would be a decrease in the maximum limit of food and clothing that can be produced. Production Possibility Curve A decrease in unemployment Assuming that a decrease in unemployment is a run of unemployed people finding field of study; A decrease in unemployment would misbegot that there is an increase in labour and would also mean that the economy is go more(prenominal) efficient.

This would mean an increase in the maximum aim of production for food and clothing due to an increase in a factor of ! production. On a possibility curve this would mean a shift to the right. British Production Possibility Curve (iii)         Discovery of modernistic oilfield The discovery of a new oilfield would mean an increase in raw materials available in the factors of production. This would mean that the maximum level of production of food and clothing would increase. On the production possibility curve, this would mean a shift to the right. British Production Possibility Curve 2.         Use... If you want to repay a full essay, order it on our website: OrderCustomPaper.com

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