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Why do central problems arise? Explain....

Why do central problems arise? Explain.

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Central problems of an economy arise due to the following reasons : (a) Limited or Scarce Resources: Resources are scarce in relation to our wants and economy cannot produce all what people want. It is the principal reason for existence of economic problems in all economies.
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SANDEEP GARG-INTRODUCTION-SHORY ANSWER TYPE QUESTION 3-4 MARKS EACH
  1. Explain the central problem of "for whom to produce" OR Explain th...

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  2. What is a production possibility frontier?

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  3. Why do central problems arise? Explain.

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  4. Explain why a production possibilities curve is concave.

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  5. Draw a production possibility curve and show the following situations ...

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  6. What does a production possibility curve show? When will it shift to t...

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  7. How is production possibility curve affected by unemployment in the ec...

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  8. What is meant by marginal opportunity cost? Why is marrignal oppoutuni...

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  9. Give the various reasons for shift in production possibility curve.

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  10. Define Marginal Rate of Transformation (MRT).

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  11. Define Production Possibilities Curve. Explain why it is downward slop...

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  12. Explain the meaning of opportunity cost with the help of production po...

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  13. State any three assumptions on which a 'Production Possibilities Curve...

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  14. State the meaning and properties of producftion possibilities frontier...

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  15. What will be the effect on PPC of Bihar if better job opportunities ar...

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  16. Using a diagram explain what will happen to the PPC of Bihar if the ri...

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  17. State the central problems of an economy.

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  18. What will likely be the impact of large scale outflow of foreign capit...

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  19. Define Marginal Opportunity cost.

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  20. In what circumtances may the production possibility frontier shift awa...

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