Author:
Current Affairs Quiz June 2022
Assumption of PPC is/are:
(A) Resources are not specific
(B) There are only two goods
(C) Resources are fully employed
(D) All of the above
Production possibility curved (PPC) is defined as different combination of goods and services that can be produced by whom when the resources are fully employed?
(A) Firm
(B) Economy
(C) Industry
(D) All of the above
Price theory studies the problem of:
(A) What goods to produce and how much to produce
(B) How to produce
(C) For whom to produce
(D) None of the above
Theory of production studies the problem of:
(A) What goods to produce and how much to produce
(B) How to produce
(C) For whom to produce
(D) All of the above
Theory of distribution studies the problem of:
(A) What goods to produce and how much to produce
(B) How to produce
(C) For whom to produce
(D) All of the above
Central problem of an economy can be:
(A) What goods to produce and how much to produce
(B) How to produce
(C) For whom to produce
(D) All of the above