Production Possibility Frontier Quiz

Any point below the PPF indicates

• Under utilisation of resources

• Over utilisation of resources

• Unattainable

A concave production possibility frontier indicates

• To produce more units of X, more units of 'Y' are sacrificed

• To produce more units of X, same units of 'Y' are sacrificed

• To produce more units of X, less units of 'Y' are sacrificed

• To produce more units of X, no units of 'Y' are sacrificed

The rate of sacrifice increases because the shape of PPF is

• Convex

• Concave

• Linear

• rectangular hyperbola

Production possibility curve is

• Convex to the vertex

• Concave to the vertex

Any point on PPF indicates

• Under utilisation of resources

• Minimum utilisation of resources

• Optimum utilisation of resources

• Over utilisation of resources

A want satisfying power of a commodity is known as

• Bundle

• Utility

The sum total satisfaction derived by consuming all the units of a given commodity is,

• Total Utility

• Marginal utility

• Maximum Utility

An addition made to the total utility by consuming an additional unit of a given commodity is

• ΣΤΟ

• ΣMU

• Negative utility

• Positive utility

Mathematically total utility is symbolised as

• Total utility

• Marginal utility

• concave to X-axis

• convex to X-axis