19-5 0 Increasing output (2) ·Raw materials -important distinction between depletable resources(coal,oil) renewable resources(timber,fish) ·Technical knowledge inventions,R&D Economies of scale may reinforce the long-run growth process Economics ECONOMICS MANAGEMENT SCHOOL,TONGJI UNIVERSITYEconomics ECONOMICS & MANAGEMENT SCHOOL, TONGJI UNIVERSITY 19-5 • Raw materials – important distinction between • depletable resources (coal,oil) • renewable resources (timber, fish) • Technical knowledge – inventions, R&D • Economies of scale may reinforce the long-run growth process Increasing output (2)