Whether the cotton textile industry is an example of micro or macroeconomics?
Microeconomics.
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 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.
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?
State any two central problems under ‘problem of allocation of resources’.[CBSE Sample Paper 2016]
A farmer is getting more profit by producing opium rather than that of wheat. In situation of famine which crop should be produced?
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.
PPC is concave shaped as production of one good can be increased only by reducing quantity of another good.
In an underdeveloped economy why there is the need of efficient utilization of resources?
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.
What is likely to be the impact of efforts towards reducing unemployment on the production potential of the economy? Explain.
Give reasons for the following statements:
Scarcity of resources is a universal phenomenon and is not confined to poor and backward countries only. Comment.
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 Make in India' appeal to the foreign investors by the Prime Minister of India, on the production possibilities frontiers of India? Explain.
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]
In the context of an economy when we talk about scarcity', we refer to short supply of land.
The problems of scarcity of resources and their alternate uses arise everywhere but particularly in backward countries. For their solution non-economic considerations can be stressed. How?
Name the economic value achievable when attempts are made to increase resources in the country.
What will likely be the impact of large scale outflow of foreign capital on Production Possibility Curve of the economy and why?
