The PPC is stright line because of
Increasing MOC
Decreasing MOC
Constant MOC
None of these
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 convex because of
The cost in terms of next best alternative sacrificed is
marginal cost
oppurtunity cost
total cost
average cost
By economising resources we mean
Making the use of resources
Using less resources
Not using resources
------- refers to the actual money expenditure of the business enterprises in purchasing or hiring the services of factor inputs.
Implicit cost
Social cost
Explicit cost
For whom to produce is an issue of
production
distribution
capital formation
Both A & B.
The PPC is concave because of
The name associated with production possibility curve is
Keynes
Sameulson
J.B. Say
Adam Smith
The technique of using more capital and less labour is known as
Capital intensive technique
Division of labour
Labour intensive technique
Intermediate technology
