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Discuss the most effective economic policies to move the PPC outwards.…

- - - - P:Qty
        
        E: depends on the size of the labour force and the no of hours pple work
        
        E:
        
        We can extend the retirement age
        
        create incentives for people to join the workforce
        
        encourgage house wives to return to the workforce
        
        L:
        
        there is a limit to how much we can extend retirement age
        
        in many developed countries, even if there is high women participation rate there is still low birth rate/insignificant rise in populaiton, which is more detrimental to population growth
      - P: Qly
        
        E:
        
        we can increase the human capital
        
        educate and train, and improve healthcare for these workers
        
        literate, healthy and skillful workers will be more productive, since they can better adaptto new techniques and are more willing to go for upgrading
        
        E: (some ssp)
        
        L:
        
        involves huge funding
        
        a lot of time
        
        changing mindset
        
        it is the most important for a resource scarce country like sg
        
        P: Alternative to increase qly: to have more talented immigrants
        
        E: This is done by reducing PIT and making the country a better place to live
        
        E: Sg has been reinventing sg by having different events at GBTB, hosting F1 and the Women's Tennis Association
        
        this helps to attract tourist and make sg a more interesting place to live
        
        L:
        
        it might be difficult to change the mindsets of the locals
        
        might be difficult to help assimilate these people into the local community (these could threaten social cohesion)
        
        infrastructure and housing must be handled well too
        
        EV: this has been overlooked by the sg govt in the 2000s, and the increase in immigrants has made the poeple unhappy which made the govt tighten its immigrants restrictions
  - - - qty
        
        E: increase in qty of capital allows the amt of capital to each worker to increase
        
        enable workers to produce more g+s at a faster rate
      - qly
        
        E:
        
        the latest technology is used in the creation of capital
        
        countries can tap on existing resoruces and also R and D for better technology
        
        ensures a higher qty and qly of output
        
        L: NOt every country has enough funds to engage in R and D
        
        EV:
        
        Instead of coming out with own money for R and D, the govt can attract FDI, who will come to the country to share their development when they invest in the country
        
        the country must be policitcally stable, attractive tax rates and low operating cost
      - investment in social capital (eg roads and telecoms)
        
        effeiciency is greatly increased when the country has a good comms and transport network
        
        this is also essential in attracting FDI
        
        L:
        
        such investments can be very costly
        
        EV:
        
        one way to solve the previous limitation is to wokr with other countryies or companies to establish areas of economic zone known internationally
        
        the host country will thus have a lot of FDI and thus learn a lot about planning and infrastructure etc