Giving reason comment on the shape of Production Possibilities curve based on the following schedule.
The Production Possibility Curve is downward sloping straight line because of constant 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?
Define Opportunity Cost. [CBSE 2007]
Or
Give the meaning of Opportunity Cost'. [CBSE 2008, 09]
State any two central problems under ‘problem of allocation of resources’.[CBSE Sample Paper 2016]
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.
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.
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.
In an underdeveloped economy why there is the need of efficient utilization of resources?
Give reasons for the following statements:
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.
State any three assumptions on which a production possibilities curve is based. [CBSE 2013 Q]
Define microeconomics.[CBSE 2007C; AI 2005, 2012]
Or
Give the meaning of microeconomics.[CBSE 2009]
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?
Give reasons for the following statements:
Giving reason comment on the shape of Production Possibilities curve based on the following schedule.
How does Maruti Udyog Ltd. fix the prices of its cars, is it studied in macroeconomics?
A farmer is getting more profit by producing opium rather than that of wheat. In situation of famine which crop should be produced?
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?
Unemployment is reduced due to the measures taken by the government. State its economic value in the context of production possibilities frontier.
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.
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.