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प्रश्न
Explain the central problem of "choice of technique".
उत्तर
The central problem of “choice of technique” is related to the allocation of resources to production techniques which have to be employed during the production of goods and services. The production of goods and services can take place in two ways –labourintensive technique and capital intensive technique. The labour-intensive technique involves more of labour and less of capital in the output, while it is reverse for the capital intensive technique.
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संबंधित प्रश्न
Giving reason comment on the shape of Production Possibilities curve based on the following schedule :
| Good X (units) | Good Y (units) |
| 0 | 10 |
| 1 | 9 |
| 2 | 7 |
| 3 | 4 |
| 4 | 0 |
What will be the impact of recently launched 'Clean India Mission' (Swachh Bharat Mission) on the Production Possibilities curve of the economy and why?
What will likely be the impact of large-scale outflow of foreign capital on Production Possibilities curve of the economy and why?
Giving reason comment on the production possibilities curve based on the following schedule:
| Good X (units) | Good Y (units) |
| 0 | 20 |
| 1 | 18 |
| 2 | 14 |
| 3 | 8 |
| 4 | 0 |
Giving reason comment on the shape of Production Possibilities curve based on the following schedule :
| Good X (units | Good Y (units) |
| 0 | 30 |
| 1 | 27 |
| 2 | 21 |
| 3 | 12 |
| 4 | 0 |
What is likely to be the impact of "Make in India" appeal to the foreign investors by the Prime Minister of India, on the production possibilities frontier of India? Explain
Giving reason comment on the shape of Production Possibilities curve based on the following schedule:
| Good X (units) | Good Y (units) |
| 0 | 16 |
| 1 | 12 |
| 2 | 8 |
| 3 | 4 |
| 4 | 0 |
What will be the impact of "Education for All campaign" (Sarv Shiksha Abhiyan) on the Production Possibilities Curve of the Indian economy and why?
Why is Production Possibilities Curve concave? Explain
Why is a production possibilities curve downward sloping? Explain
In what circumstances may the production possibility frontier shift away from the origin? Explain.
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