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प्रश्न
What do you mean by the production possibilities of an economy?
उत्तर
Production possibilities of an economy imply those numerous alternative combinations of goods and services, which a particular economy can produce, with the given technology and employing the available resources fully and efficiently. In other words, it refers to various feasible bundles of goods and services that can be produced together by efficiently utilising the given technology and available resources.
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संबंधित प्रश्न
Assuming that no resource is equally efficient in production of all goods, name the curve which shows production potential of the economy. Explain, giving reasons, its properties.
Production in an economy is below its potential due to unemployment. Government starts employment generation schemes. Explain its effect using production possibilities curve.
Give the meaning and characteristics of production possibility frontier.
A large number of technical training institutions have been started by the government. State its economic value in the context of production possibilities frontier.
Answer the following question.
Explain the meaning of opportunity cost with the help of a production possibility schedule.
Define Production Possibilities Curve. Explain why it is downward sloping from left to right.
Define flow variable.
What is a production possibility frontier?
Choose the correct alternative from given options:
In the given figure, the movement on the production possibility curve from point A to point B shows _____________.
Fill up the blank.
A Production Possibility Curve (PPC) would be convex to the origin if the Marginal Rate of Transformation (MRT) is ___________.
Production possibility curve slopes downwards from ______ to ______.
Which of the following is the result of increase in price of factors of production?
Which of the following statement is true:
Which of the following statement is false?
The total output generated by the first four units of variable input is 200 units, 350 units, 450 units and 500 units. The marginal product of the third unit of input is:
