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Consider the following statement- An eco...

Consider the following statement- An economy always manages to meet all the needs of the people living in the country.

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False: An economy always tries to provide means of living to all the people. It may be successful (as in most of the developed countries), or it may not be successful (as in many developing countries) to achieve its objective.
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FULL MARKS-INTRODUCTION TO ECONOMICS -NCERT TEXTBOOK QUESTIONS SOLVED
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  2. Define MOC. Explain the concept with a hypothetical numerical example.

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  3. Consider the following statement- An economy always manages to meet al...

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  4. In the context of an economy when we talk about 'scarcity', we refer t...

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  5. Economic problem arises due to plenty of resources.

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  6. Because of destruction caused by war, a country's PPF will shift to th...

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  7. A job guarantee scheme will lead to a rightward shift of PPF.

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  8. If a PPF shifts to the right, the new PPF will be parallel to the orig...

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  9. A 'production Possibility Frontier' (PPF) is always represented as a ...

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  10. If the economy operates inside PPC, it shows full utilisation of resou...

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  11. Growth of resources shifts PPC towards left.

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  12. PPC is concave shaped as production of one good can be increased only ...

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  13. Economy can never operate outside PPC with the given resources and tec...

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  14. Economy always operates on PPC.

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  15. Define Marginal Opportunity cost.

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  16. How does Maruti Udyog Ltd. Fix the prices of its cars, is it studied i...

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  17. Whether the cotton textile industry is an example of micro or macroeco...

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  18. "Scarcity and choice go all together" Defend or refute.

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  19. "Only 'Scarce Goods' attract price." Comment.

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  20. A lot of people die and many factories are destroyed due to floods in ...

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