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Introduction
Question
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Give three examples each of growth of resources and fall in volume of resources. 

Answer

(a) (1) Availability of new equipment, (2) Increase in skilled and unskilled labour through population growth, and (3) Discovery of new natural resources are factors of growth of resources which shift PP curve rightward.

(b) (1) Wear and tear or breakdown of machinery, (2) Saturation of natural resources and (3) Technology becoming obsolete are factors of fall in resources which shift PP curve to the left.

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Some More Questions From Introduction Chapter

What is the difference between microeconomics and macroeconomics?

Briefly state meaning of the following terms as used in economics.
1. Economy (D 2010 C), 2. Goods, 3. Services, 4. Wants, 5. Resources,
6. Households, 7. Firms, 8. Commodities, 9. Production, 10. Consumption

Explain central problems with the help of PP curve. How does PP curve help in explaining the central problems?

(i) Why is PP curve downward sloping from left to right?    (D 2006C)

(ii) Why does PP curve look concave to the origin? 

Can the PP curve shift?

State factors which cause rightward (upward) shift of PP curve.

 How is PPC affected by unemployment in the economy? Explain.

Massive unemployment shifts the PPC to the left. Defend or refute.

What is meant by resources?