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  • Question 1
    1 / -0

    Multiple choice question:

    Which of the following is not concerned with the problem of choice?

  • Question 2
    1 / -0

    Positive economics involves statements which are ____________.

  • Question 3
    1 / -0

    Scarcity of resources exists ___________.

  • Question 4
    1 / -0

    Which of the following is a positive statement?

  • Question 5
    1 / -0

    The following data gives the production possibilities frontier of an economy that produces two types of goods, guns and bread. Read the following table and answer questions.

    Production PossibilitiesGunsBread
    A0105
    B10100
    C2090
    D3075
    E4055
    F5030
    G600
    H3045
    Point D is efficient while point H (30 guns and 45 bread) is inefficient. Why?

  • Question 6
    1 / -0

    Normative economics deals with _____________.

  • Question 7
    1 / -0

    Multiple Choice Question:

    Slope of production possibility curve is ______________.

  • Question 8
    1 / -0

    Multiple Choice Question:

    The opportunity cost of $$100kg$$ of rice produced on a land which can also produce $$80$$ tonnes of wheat is _____________.

  • Question 9
    1 / -0

    The problem of 'what to produce' relates to ______________.

  • Question 10
    1 / -0

    The shape of transformation curve is changed by a change in the _____________.

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