The name associated with production possibility curve is
Keynes
Sameulson
J.B. Say
Adam Smith
The central problems are tackled in a market economy by
The government
the planning authority
market mechanism
Both the government and market mechanism
Production possibility curve is the boundary of all these combination of
two goods
three goods
four goods
only one good
The PPC is concave because of
Constant MOC
Increasing MOC
Decreasing MOC
None of these
Scarcity and unlimited wants lead to the problem of
Production
Efficiency
Choice
Distribution
Which of the following book was written by Alfred Marshall?
Principles of Economics
Wealth of Natons
General Theory
Nature and Significance of Economics
The PPC is stright line because of
Which of the following is an explicit cost of production?
Rent
Land
Capital
Mnagement services
The PPC is convex because of
For whom to produce is an issue of
production
distribution
capital formation
Both A & B.
