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
The Welfare definition of economics was given by
Adam Smith
Keynes
Alfred Marshall
Samuelson
Economic is
Social Science
General Science
Basic Science
Welfare science
Another name for production possibility curve is
Transformation curve
Marginal Productivity curve
Indifference curve
What to produce is a question of
Efficient use of resources
Allocation of resources
Growth of resources
Resources
How to produce is a question relating to
Choice of techniques of production
Distribution of output produced
Distrbution of input produced
Choice is fundamental to economic behaviours because
People fund it difficult to choose what they want
Resources are scarce in relation to wants
Prices depend on people making choice
Resource scarce
"Wealth of Nation" is written by
Lionel Robbins
Capital intensive technique is the method of using
More labour and less Capital
More Capital and less Labour
More Capital and More Labour
More labour and More capital
"Growth definition " is the contribution of
