Q4. What does a production possibility curve show? When will it shift to the right? [2]
Q5 Define Economics, normative economics, positive economics, marginal
opportunity cost. [2]
Q6. Explain two characteristics of resources that lead to economic problems. [2]
Q7, Why PPC is concave? Explain[2]
Q8. What will be the impact of Education for all campaign" on PPC of the economy
and why?[2]
09. Defend or refute with reasons[3]
1) "An economy always produces on but not inside a PPC."
2) PPC shows decreasing slop.
3) If the economy is operating somewhere inside PPC, it is possible to increase
production of one commodity without any decrease in the production of another
commodity.
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Answer:
Explanation:production possibility curve is a curve that shows the maximum attainable combination of goods and services that a country can produce using all of it resources and a level of technology
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