Question

1.PPC will shift to the left when there is :
a. Underutilization of resources

b. Growth of resources

c. technological improvement

d. loss of resources because of natural calamity


2. Opportunity cost : (1)

a. is always lower than the given value of a factor

b. is always higher than the given value of a factor

c. is equal to the given value of a factor

d. can be less than,more than or equal to the given value of a factor


3. The bundles that the consumer can purchase by spending his entire money income at given prices is represented by :

a. Budget line

b. Budget set

c. Consumption bundle

d. None of these


4.Slope of budget line is:

a. MOC

b. MRS

c. Market rate of exchange

d. All of these


5. Consumer’s equilibirium through indifference curve analysis is based on ;

a. Cardinal utility

b. Marginal utility

c. Ordinal utility

d. None of these


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Answer 1

Answer:

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