What is meant by central problem of an e...

What is meant by central problem of an economy?

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The problem of making a choice among alternative uses of resources is known as basic or central problem of an economy.

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FULL MARKS-INTRODUCTION TO ECONOMICS -NCERT TEXTBOOK QUESTIONS SOLVED

What is the basic reason for economic problem in all economies?
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What is meant by economising of resources?
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What is meant by central problem of an economy?
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What does a rightward shift of production possibility curve indicate?
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Give two examples of growth of resources.
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Give two examples of underutilisation of resources.
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Define Opportunity Cost.
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Give the meaning of 'Opportunity Cost'.
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Define Marginal Rate of Transformation (MRT).
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Why PPC is concave to the point of origin?
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Define microeconomics.
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Give the meaning of macroeconomics.
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Give one/two examples of microeconomics study.
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Name any three variables of microeconomics.
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Name any three variables of macroeconomics.
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State any two central problems under 'problem of allocation of resourc...
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The law of scarcity
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The central problem in economics is that of
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Which one of the following bundles of goods cannot be produced with th...
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An economy achieves "productive efficiency" when:
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