What is the basic reason for economic problem in all economies?
It is scarcity of resources.
A country's resources are fully and p efficiently employed. The problem of scarcity exists. What advice would be given to raise the efficiency level of the human resource to fight scarcity?
Explain the meaning of opportunity cost with the help of production possibility schedule.[CBSE, All India 2013]
A doctor has a private clinic in New Delhi and his annual earnings are Rs 10 lakh. If he works in a government hospital in New Delhi, his annual earning will be Rs 8 lakh. What is the opportunity cost of having a clinic in New Delhi?
Giving reason comment on the shape of Production Possibilities curve based on the following schedule.
Giving reason comment on the shape of Production Possibilities curve based on the following schedule.
India is a labour abundance and capital scarce economy. Which technique of production should be used to produce the commodity?
As water resources are limited in our country, how can we economise the water resources so that it could not cause a future problem for us? Give any two suggestions.
The government has started promoting foreign capital. What is its economic value in the context of Production Possibilities Frontier?
Production in an economy is below to its potentiality due to unemployment. Government starts employment generation schemes. Explain its effects by using production possibility curve.
Although water is useful, yet it is cheap. On the contrary, diamond is not much of use, still it is very expensive. Give an economic reason for this paradox.
What is likely to be the impact of efforts towards reducing unemployment on the production potential of the economy? Explain.
Why does an economic problem arise? [CBSE 2006, 07C, 09; Or AI 2007]
State any two causes of economic problem. [CBSE 2005C, 09C, 12;Or AI 2007]
State two characteristics of the economic resources which give rise to economic problem.Or [AI 2007]
Why does problem of choice arise?[CBSE 2004, 05C, 06, 07] Or
Explain three factors that lead to an economic problem.
Give reasons for the following statements:
A farmer is getting more profit by producing opium rather than that of wheat. In situation of famine which crop should be produced?
With the same amount of resources a farmer can feed the following combination of goats and horses:
Taking into consideration the options available with him, find out the opportunity cost of the farmer of feeding one horse.
Giving reason comment on the shape of Production Possibilities Curve based on the following schedule.
State any three assumptions on which a production possibilities curve is based. [CBSE 2013 Q]
Define Marginal Opportunity Cost. Explain the concept with a hypothetical numerical example.[CBSE Sample Paper 2016]
A Production Possibility Frontier' (PPF) is always represented as a upward sloping curve.
PPC is concave shaped as production of one good can be increased only by reducing quantity of another good.
What will be the impact of recently launched Clean India Mission' (Swachh Bharat Mission) on the Production Possibilities curve of the economy and why?
Why does an economic problem arise? [CBSE 2007]
Or
What gives rise to an economic problem? [CBSE, Sample Paper 2008] Or
Why does the problem of choice arise? [CBSE 2004]
Unemployment is reduced due to the measures taken by the government. State its economic value in the context of production possibilities frontier.
A teacher is getting Rs 6,000 per month as salary. If he leaves the job and starts tuition work, he is expected to earn Rs 5,000 per month. What would be his opportunity cost?
Giving reason comment on the shape of Production Possibilities curve based on the following schedule.
Define microeconomics.[CBSE 2007C; AI 2005, 2012]
Or
Give the meaning of microeconomics.[CBSE 2009]