Explain how the quantity and quality of factors of production change. Apply examples such as land reclamation, changes in the labour force, worker training and shifts in enterprise.
Some markets in Belgium are in equilibrium. The country produces a wide range of goods and services with different degrees of price elasticity of demand. The Belgian Government wants the economy to move to a production possibility point beyond its current production possibility curve (PPC). Belgium's scientific industry is one industry which is doing well. Workers in this industry are highly specialised.
Discuss whether or not firms benefit from their workers undertaking training.