Question

38. Explain basic problems of the economy
with the help of production possibility
cure​

Answer 1

Answer:

There is full employment in the economy. Only two goods can be produced from the given resources. Resources of production are fully mobile. The factors of production are given in quantity and quality.

Answer 2

Hᴇʟʟᴏ❤️

Uʀ Aɴsᴡᴇʀ :-

Production Possibility Curve and Basic Economic Questions: Scarcity, Choice, and Resource Allocation. ... If the given resources are being fully used and technology remains constant, an economy cannot increase the production of both the goods represented on the two axes. This illustrates the basic economic problem.

Tʜᴀɴᴋ Yᴏᴜ

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