Final answer:
If society's available resources increase, the production possibilities frontier would shift outward, indicating potential economic growth and the ability to produce more of all goods.
Step-by-step explanation:
If society were to experience an increase in its available resources, its production possibilities frontier would shift outward. This shift indicates that the society can produce more of all goods, reflecting economic growth. For instance, when a society sees an increase in labor and capital over a period of years or benefits from technological advancements, these enhancements enable the society to achieve higher levels of production, which in turn pushes the production possibilities frontier outward.
Additional resources reduce the opportunity cost of producing more goods. As more resources are devoted to education or healthcare, the slope of the PPF initially shows a small increase in opportunity cost; however, as more and more resources are committed, the opportunity cost increases at a greater rate.
Overall, this expansion of the PPF represents both productive efficiency and allows a society to reallocate resources where they are most desired or valued—also known as allocative efficiency.