00:01
So an increase in which of the following would most likely result in an increase in supply? so let's go through a couple of things.
00:06
So number one, if there is an increase in resources, so if a country has more resources, it can produce more goods.
00:14
Examples of resources would be natural resources like oil, coal, labor resources, or capital such as machinery, buildings, infrastructure, etc.
00:25
Number two would be an increase in technology.
00:28
Technology.
00:29
So technology will allow for more production, more efficient production, allowing for more goods and services to be produced with the same amount of resources.
00:40
So if you have better technology, you can have the same amount of resources, but be able to produce more and more efficiently, which would again result in an increase in aggregate supply...