Question

EXERCISES
VERY SHORT ANSWER TYPE QUESTIONS (1 Mark)
1. Give two reasons for the problem of choice,
(CBSE D
Why does the problem of choice arise ?
2. What is economics?
3. Which branch of economics deals with the problems of economic growth, growth of resources and
utilisation of resources ?
4. Define Central problem.
5. Why does an economic problem arise ?
(CBS]
6. What is the meaning of 'for whom to produce ?
7. Define marginal opportunity cost.
(CBSE I
8. What is opportunity cost?
(CB
9. Define production possibility curve,
10. What do you understand by what do produce'?
11. What is meant by economising of resources?
12. What does a leftward shift of production possibility curve indicate ?
(CBSE Sample
13. Why does the problem of choice arise ?
acemic problems,
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Answer 1

1. one reason is the limited sources and large number of wants.. ..thus the problem of choice arise.

2.According to the father of economics Adam Smith,, Economics is the study of wealth of nations...

5.Economic problems arise by many reasons like poverty, unemployment, deflation ,,inflation ,,low per capita income etc...

6.the meaning of For whom to produce means... consumers ,for whom the producer produce the commodities...

10. the meaning of what to produce is the problem for producer.. he firstly decide what he is going to produce.. which commodity...

11..economising the resources means.. limited or full utilize of the resources....

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