PPC is concave shaped as production of one good can be increased only by reducing quantity of another good.
False: PPC is concave shaped due to increasing marginal opportunity cost.
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?
The government has started promoting foreign capital. What is its economic value in the context of Production Possibilities Frontier?
Give one/two examples of microeconomics study.[CBSE 2004C, 09, 09C, 11C;AI 2004, 05, 07, 11]
Or
Name any three variables of micro-economics.
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]
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.
State any two central problems under ‘problem of allocation of resources’.[CBSE Sample Paper 2016]
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 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?
Define Opportunity Cost. [CBSE 2007]
Or
Give the meaning of Opportunity Cost'. [CBSE 2008, 09]
Define microeconomics.[CBSE 2007C; AI 2005, 2012]
Or
Give the meaning of microeconomics.[CBSE 2009]
In an underdeveloped economy why there is the need of efficient utilization of resources?
State any three assumptions on which a production possibilities curve is based. [CBSE 2013 Q]
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.
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.
Give reasons for the following statements:
A Production Possibility Frontier' (PPF) is always represented as a upward sloping curve.
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.
A farmer is getting more profit by producing opium rather than that of wheat. In situation of famine which crop should be produced?
Large number of technical training institutions have been started by the government. State its economic value in the context of production possibility frontier.
Name the economic value achievable when attempts are made to increase resources in the country.
What is likely to be the impact of efforts towards reducing unemployment on the production potential of the economy? Explain.
Giving reason comment on the shape of Production Possibilities curve based on the following schedule.
