A centraly planned economy is also called
capitalist economy
Socialist economy
Communal economy
Mixed economy
The PPC is stright line because of
Increasing MOC
Decreasing MOC
Constant MOC
None of these
By economising resources we mean
Making the use of resources
Using less resources
Not using resources
Which of the following book was written by Alfred Marshall?
Principles of Economics
Wealth of Natons
General Theory
Nature and Significance of Economics
The problem of choice arises because
human wants are unlimited
Resources are limited
wants are unlimited and resources are limited
Which of the following is an explicit cost of production?
Rent
Land
Capital
Mnagement services
The name associated with production possibility curve is
Keynes
Sameulson
J.B. Say
Adam Smith
The planing authority solves the central problems in a
socialist economy
market economy
mixed economy
developed economy
The PPC is concave because of
The PPC is convex because of