MICRO ECONOMICS

Production Possibility curve can be..........

• Concave
• Convex
• Straight
• All of the above can be possible

If there is destruction of resources in an economy the PPC

• Shifts towards left hand side
• Brings unemployment
• Shifts towards right hand side
• None of the above

Which of the following assumption is not true in respect of PPC?

• All the resources are fixed and are transferable
• There is fullar utilization of resources
• Advanced techenique of production is used
• Only two goods can be produced in an economy

Which of the following economic problem is not presented by PPC?

• What to produce
• How to produce
• For whom to produce
• Growth of resources

What is the effect on PPC if there is growth of resouces ?

• PPC shifts towards left hand side 
• PPC shifts towards right hand side
• There is movement on the same PPC
• No effect on PPC

Which of the following is not a matter of micro economics?

• Producer's Behaviour
• Market Demand
• Monetary Policy
• Price Determination

Which of the following is not related to Macro Economics?

• Market Supply
• National Income
• Aggregate Demand
• Central Bank's Policy

Name the economic value achieved through the spread of education in the context of production potential

• Increase in efficiency
• Effective utilization of resources 
• Economic growth
• All of these

A point inside the PPC represents

• Underutilization of resources
• Unattainable combination
• Fuller utilization of resouces
• Inefficient use of any one of the two resouces

What is an economic problem?

• Problem of making optimum utilization of resouces
• Making choice in the presence of scarcity 
• Problem of coice of techenique of production
• Problem of allocation of resources