(A) Shift inward
(B) Shift outward
(C) Remains same
(D) All of the above
Category: Economics Mcqs
Users will find here Economics Mcqs for NTS, CSS, PMS, PPSC, FPSC, KPPSC, AJKPSC, BPSC, PTS, SPSC, Lecturer and all other types of Competitive Exams and Interviews. Economics students can prepare their Economics Portion for all test from here.
PPC can effectively explain the central problem of:
(A) What to produce
(B) How to produce
(C) Economic growth
(D) All of the above
If production of good X rises by 1 unit and that of good Y falls from 15 to 12.5 units then, marginal opportunity cost of X is:
(A) 2.5
(B) 12.5
(C) 15
(D) 27.5
PPC is also called:
(A) Opportunity cost curve
(B) Transformation curve
(C) Production possibility frontier
(D) All of the above
Smooth PPC is based on the assumption that:
(A) Infinite production possibilities exist
(B) Limited production possibilities exist
(C) Two production possibilities exist
(D) None of the above
Shape of PPC is:
(A) Downward sloping concave to the origin
(B) Downward sloping convex to the origin
(C) Downward sloping straight line to the origin
(D) All of the above
Assumption of PPC is/are:
(A) Resources are not specific
(B) There are only two goods
(C) Resources are fully employed
(D) All of the above
Production possibility curved (PPC) is defined as different combination of goods and services that can be produced by whom when the resources are fully employed?
(A) Firm
(B) Economy
(C) Industry
(D) All of the above