(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
Tag: Economics Mcqs With Answers
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
Price theory studies the problem of:
(A) What goods to produce and how much to produce
(B) How to produce
(C) For whom to produce
(D) None of the above
Theory of production studies the problem of:
(A) What goods to produce and how much to produce
(B) How to produce
(C) For whom to produce
(D) All of the above
Theory of distribution studies the problem of:
(A) What goods to produce and how much to produce
(B) How to produce
(C) For whom to produce
(D) All of the above
Central problem of an economy can be:
(A) What goods to produce and how much to produce
(B) How to produce
(C) For whom to produce
(D) All of the above
Economic problem arises because:
(A) Wants are unlimited
(B) Resources are scare
(C) Alternative uses of resources exist
(D) All of the above