Unemployment is reduced due to the measures taken by the government. State its economic value in the context of production possibilities frontier.
When unemployment is reduced due to the measures taken by the government, the economy will be able to realize its production potential (Full employment) level.
Value: Efficient utilization 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?
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.
Explain the meaning of opportunity cost with the help of production possibility schedule.[CBSE, All India 2013]
There are various sources of income a teacher has; such as,
Giving reasons, state whether the following statements are true or false.
An economy always manages to meet all the needs of the people living in the country.
India is a labour abundance and capital scarce economy. Which technique of production should be used to produce the commodity?
Giving reason comment on the shape of Production Possibilities curve based on the following schedule.
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.
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.
A farmer is getting more profit by producing opium rather than that of wheat. In situation of famine which crop should be produced?
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.
State any two central problems under ‘problem of allocation of resources’.[CBSE Sample Paper 2016]
Name the economic value achievable when attempts are made to increase resources in the country.
Giving reason comment on the shape of Production Possibilities Curve based on the following schedule.
Why is it that on one hand coal is found in plenty, yet it is scarce while on the other, a rotten vegetable is rare but not scarce?
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 2007]
Or
What gives rise to an economic problem? [CBSE, Sample Paper 2008] Or
Why does the problem of choice arise? [CBSE 2004]
Define microeconomics.[CBSE 2007C; AI 2005, 2012]
Or
Give the meaning of microeconomics.[CBSE 2009]
Give reasons for the following statements:
The government has started promoting foreign capital. What is 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.
Scarcity of resources is a universal phenomenon and is not confined to poor and backward countries only. Comment.
What will be the impact of recently launched Clean India Mission' (Swachh Bharat Mission) on the Production Possibilities curve of the economy and why?