Give the meaning of 'Opportunity Cost'....

Give the meaning of 'Opportunity Cost'.

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Opportunity cost is the cost of the next best alternative.

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FULL MARKS-INTRODUCTION TO ECONOMICS -NCERT TEXTBOOK QUESTIONS SOLVED

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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Which point on PPF shows a "productively efficient" level of output?
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Which of the following clearly represents a movement toward greater pr...
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Which one of the following alternatives illustrate a decrease in unem...
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If the PPF is linear, i.e., a straight line, which one of the followin...
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Which one of the following statements is a reason for the negative slo...
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