A shift of the production possibility curve to the right means
Expansion of output produced
Scope for greater choice
That the economy is able to produce more of the commodities than before
Supply curve
Economic problem arises in
All types of economies
Poor economies
Rich economies
Capital economy
"Wealth of Nation" is written by
Adam Smith
Alfred Marshall
Lionel Robbins
Samuelson
Another name for production possibility curve is
Transformation curve
Marginal Productivity curve
Indifference curve
By economizing resources we mean:
Using less resources
Not using resources
Making the best use of resources
Using more resources
Scarcity definition of economics was given by
Robbins
What to produce is a question of
Efficient use of resources
Allocation of resources
Growth of resources
Resources
The father of economics is
Nature and significance of economic science was written by:
The branch of microeconomics which deals with efficiency in production and distribution is called
Welfare economics
Positive economics
Normative economics
Macro economics
